and leadership need to stay on point in order to ensure the focus on their most significant wealth source. The positive support comes from Tesla’s investor base, many of whom appreciate Musk’s visionary mind.
However, it is also worth mentioning that the proposal was not agreed upon by all shareholders, facing disapproval from some big institutional investors and proxy firms.
“If I wasn't optimistic, this wouldn't exist, this factory wouldn't exist," Musk said to applause. "But I do deliver in the end. That's the important thing.” declared Elon Musk at the meeting with the shareholders from Austin, Texas. Continued with “I just want to start off by saying: Hot damn, I love you guys,” at the conference this Thursday, continuing that “I think we’re not just opening a new chapter for Tesla, we’re starting a new book.”
Elon Musk was also approved to re-incorporate Tesla in Texas, changing its location from Delaware. The votes favored Musk’s 2018 stock award, meaning he will be getting a $56 billion compensation, the biggest payout in history. However, this doesn’t mean he will get it. The final decision is held by the judge from the Delaware court. And this is not all, as Musk might also face the biggest lawsuit on the package that was voted by the shareholders in 2018.
The final ruling from the judge came after 2019 Richard Tornetta filled a suit so that Musk's pay deal was rescinded. In this suit, he claimed that Eon Musk was a part-time CEO receiving an inappropriate amount of money as the board did not request him to focus entirely on Tesla.
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