Tesla shareholders on Thursday reaffirmed a pay award worth more than $45 billion for Elon Musk, but before the announcement was made official at the company's annual meeting in Austin, Texas, Musk posted the news on x, your social media platform.
“Both Tesla shareholder resolutions are currently passing by wide margins!” he x.com/elonmusk/status/1801084780035154058″ title=”” rel=”noopener noreferrer” target=”_blank”>wrote in a post late Wednesday night. “Thanks for your support!!”
For months, Musk's supporters have used the social media site, which he bought for $44 billion in 2022, to drum up support for his massive payday, and Tesla board members warned he could leave the company. if the shareholders voted against him.
But for some Tesla investors, Musk's involvement with Musk has also used the platform to promote right-wing conspiracy theories and vulgar content, offending some of his employees and investors.
At x, shareholder approval of the pay package was met with praise from Musk's legion of followers, some of whom applauded before the official vote was announced. They included retail investors, friends of the tech industry and media personalities.
“Congratulations on collecting what you're owed, E!” x.com/Jason/status/1801094534908252633″ title=”” rel=”noopener noreferrer” target=”_blank”>wrote Jason Calacanis, a prominent technology investor and podcast host who is close to Musk.
“The most important message of the vote” x.com/alex_avoigt/status/1801298107272941995″ title=”” rel=”noopener noreferrer” target=”_blank”>wrote Alex Voigt, blogger and YouTube personality, “is that Elon knows that he now has the support of 90% of retail investors and more than 73% of all stocks, and that is important for him personally and for the future of Tesla “.
“It means a lot,” Musk responded.
“It appears that Tesla shareholders are approving of Elon's CEO package by a wide margin, which is good for them,” wrote Lulu Cheng Meservey, a technology executive with 80,000 followers on the platform. “People who are actually in the game can see the business logic that a Delaware judge blinded by his personal agenda couldn't.”
“The vast majority of Tesla shareholders approved Elon's compensation package in 2018 and have approved it again now. An activist judge overturned it for nothing. “Trial attorneys asking for billions in fees should get nothing.” x.com/DavidSacks/status/1801107293427384494″ title=”” rel=”noopener noreferrer” target=”_blank”>wrote David Sacks, a Silicon Valley technology investor who is also close to Musk.
Musk's critics also weighed in, although in smaller numbers.
“It's official: Tesla shareholders are the stupidest human beings to ever exist on the face of the planet,” one poster wrote.
But many Tesla shareholders who criticized the pay package in the weeks before the vote remained silent in the hours after the decision.
