Elon Musk wins record-breaking Tesla pay deal from shareholders

The multi-billionaire had campaigned for the payout, which is worth up to $56bn.

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 investors back $56bn Musk pay deal2 hours agoBy João da Silva & Natalie Sherman, Business reportersShareReutersTesla shareholders have backed a record-breaking pay package for boss Elon Musk and approved a plan to move the firm's legal headquarters to Texas.

The deal was blocked earlier this year by a judge in Delaware over concerns it was unfair to shareholders.

The vote is a victory for the multi-billionaire, who had campaigned fiercely for the payout, which is worth up to $56bn (£43.9bn). The exact amount depends on the Tesla share price.

"Hot damn, I love you guys," he told a crowd of enthusiastic shareholders who had gathered in Texas for the firm's annual meeting.

The deal is worth more than 300 times what the top-earning boss in the US made last year, and more than 3,000 times the average CEO's pay package.

https://www.bbc.com/news/articles/cleezyxjv4jo

---