Shareholders approve Elon Musk's $44.9 billion Tesla pay package
ECONOMY & POLICY

Shareholders approve Elon Musk's $44.9 billion Tesla pay package

Tesla shareholders voted to reinstate CEO Elon Musk's record $ 44.9 billion pay package, which had been nullified by a Delaware judge earlier this year. This decision indicates strong confidence in Musk's leadership of the electric vehicle manufacturer.

However, the approval does not guarantee Musk will receive the all-stock compensation soon. The package is expected to remain entangled in the Delaware Chancery Court and Supreme Court for several months as Tesla appeals the judge's decision.

Musk has expressed uncertainty about his future with Tesla this year. On X, the social media platform he owns, he wrote that he sought a 25% stake in the company to prevent him from shifting artificial intelligence development to other ventures. He stated that the increased stake is necessary to manage AI use effectively.

Tesla has also faced challenges with declining sales and profit margins amid a global slowdown in demand for electric vehicles. Despite these issues, Musk reassured shareholders at the company's annual meeting in Austin, Texas, that he plans to stay with Tesla. He informed them that he cannot sell any stock from the compensation package for five years.

Tesla shareholders voted to reinstate CEO Elon Musk's record $ 44.9 billion pay package, which had been nullified by a Delaware judge earlier this year. This decision indicates strong confidence in Musk's leadership of the electric vehicle manufacturer. However, the approval does not guarantee Musk will receive the all-stock compensation soon. The package is expected to remain entangled in the Delaware Chancery Court and Supreme Court for several months as Tesla appeals the judge's decision. Musk has expressed uncertainty about his future with Tesla this year. On X, the social media platform he owns, he wrote that he sought a 25% stake in the company to prevent him from shifting artificial intelligence development to other ventures. He stated that the increased stake is necessary to manage AI use effectively. Tesla has also faced challenges with declining sales and profit margins amid a global slowdown in demand for electric vehicles. Despite these issues, Musk reassured shareholders at the company's annual meeting in Austin, Texas, that he plans to stay with Tesla. He informed them that he cannot sell any stock from the compensation package for five years.

Related Stories

Gold Stories

Next Story
Infrastructure Energy

Asian Energy Services Q1 FY27 PAT Rises 129 Per Cent

Asian Energy Services Limited reported a 129 per cent year-on-year rise in net profit to Rs 128 million for Q1 FY27, compared with the corresponding quarter last year.Revenue increased 135 per cent year-on-year to Rs 2.71 billion, supported by continued momentum across its services business, disciplined execution and contributions from domestic and international operations. EBITDA grew 81 per cent year-on-year during the quarter.As of June 30, 2026, the company’s standalone order book stood at Rs 17.54 billion, with around 60 per cent coming from oil and gas services and 40 per cent from min..

Next Story
Infrastructure Urban

BioBTX to Build First Commercial-Scale Circular Chemicals Plant

Dutch circular chemistry technology developer BioBTX is building what it says will be the world’s first commercial-scale plant to convert mixed plastic waste into high-quality aromatic chemicals using its proprietary Integrated Catalytic Cracking Process (ICCP) technology.The facility will be built at Chemical Park Delfzijl on the northern coast of the Netherlands and is expected to create 35 jobs. Covestro, which has been a shareholder and strategic partner of BioBTX since 2024, holds a mid-single-digit million-euro investment in the company.BioBTX’s ICCP technology uses catalytic pyrolys..

Next Story
Real Estate

Awfis Q1 FY27 PAT Jumps 140% as Revenue Rises 27%

Awfis Space Solutions reported a 140 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 240 million for Q1 FY27, compared with Rs 100 million in the corresponding quarter last year.Revenue from operations increased 27 per cent to Rs 4.25 billion from Rs 3.35 billion, while EBITDA rose 28 per cent to Rs 1.62 billion. EBITDA margin improved to 38.2 per cent from 37.8 per cent. Profit before tax increased 135 per cent to Rs 240 million.The company's co-working business recorded 27 per cent year-on-year growth, supported by demand from enterprises, Global Capability Centres (G..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement