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

14 Jun 2024 CW Team

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.

Infrastructure Energy

14 Oct 2025

Mizoram To Build Rs 139 Billion Pumped Storage Power Plant

Mizoram Chief Minister Lalduhoma on Friday announced plans to construct a 2,400 MW pumped storage hydroelectric power plant in Hnahthial district, marking a major step towards achieving energy self-sufficiency in the state. Addressing the Mizo Students’ Union general conference in Hnahthial town, the Chief Minister said the plant would be developed across the Darzo Nallah, a tributary of the Tuipui river. Once operational, the project is expected to play a pivotal role in meeting Mizoram’s rising electricity demand and reducing dependence on imported power. Officials from the State Power..

Centre Plans Nationwide Opening Of Power Retail Market

India is preparing to open up its retail electricity market to private companies nationwide, effectively ending the long-standing monopoly of state-run power distributors in most regions, according to a draft bill released by the Union Power Ministry on Friday. The move will enable major private sector players — including Adani Enterprises, Tata Power, Torrent Power, and CESC — to expand their presence across the country’s electricity distribution landscape. A similar reform attempt in 2022 had faced strong opposition from state-run distribution companies (discoms), which currently dom..

CEA Sets 100 GW Nuclear Target For India By 2047

In a landmark step marking its 52nd Foundation Day, the Central Electricity Authority (CEA) unveiled an ambitious roadmap to develop 100 gigawatts (GW) of nuclear power capacity by 2047, aligning with India’s long-term Net-Zero commitment and energy security objectives. The event, held at the Central Water Commission auditorium in New Delhi’s R.K. Puram, was attended by Pankaj Agarwal, Secretary, Ministry of Power, who served as the Chief Guest. The roadmap sets out a detailed plan to expand India’s nuclear capacity from its current level of approximately 8,180 MW as of early 2025, outl..