Tesla pay fight tests power of Elon Musk's mystique

Elon Musk wants the biggest pay package in history, but will investors back the $50bn deal?

British Broadcasting CorporationWatchRegisterSign InHomeNewsSportBusinessInnovationCultureTravelEarthVideoLiveHomeNewsIsrael-Gaza WarWar in UkraineUK General ElectionUS & CanadaUKUK PoliticsEnglandN. IrelandN. Ireland PoliticsScotlandScotland PoliticsWalesWales PoliticsAfricaAsiaChinaIndiaAustraliaEuropeLatin AmericaMiddle EastIn PicturesBBC VerifySportBusinessFuture of BusinessTechnology of BusinessWork CultureInnovationTechnologyScience & HealthArtificial IntelligenceCultureFilm & TVMusicArt & DesignStyleBooksEntertainment NewsTravelDestinationsAfricaAntarcticaAsiaAustralia and PacificCaribbean & BermudaCentral AmericaEuropeMiddle EastNorth AmericaSouth AmericaWorld’s TableCulture & ExperiencesAdventuresThe SpeciaListEarthNatural WondersWeather & ScienceClimate SolutionsSustainable BusinessGreen LivingVideoLiveLive NewsLive SportHomeNewsSportBusinessInnovationCultureTravelEarthVideoLiveAudioWeatherNewslettersTesla pay fight tests power of Elon Musk's mystique 16 hours agoBy Natalie Sherman, BBC NewsShareGetty ImagesIn 2018, Tesla shareholders approved the biggest pay package in history for Elon Musk. Six years later, will they do it again?

The electric car company will find out this week at its annual meeting, where it is seeking a show of support for the roughly $50bn deal.

The package - worth an estimated 300 times what the top-earning boss in the US made last year - won backing from 73% of shareholders who voted six years ago.

The compensation plan gives Mr Musk rights to roughly 300 million shares – a roughly 10% stake in the firm - as a reward for the firm meeting goals once considered laughable, like becoming a $650bn firm.

But earlier this year, a Delaware judge voided the deal after a small investor sued, ruling that the sum was "unfair" and the process for determining the package, by a board dominated by Mr Musk, was "deeply flawed".

https://www.bbc.com/news/articles/crggk5rvqd1o

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