Tech billionaire Elon Musk is encouraging shareholders in electric automaker Tesla to vote in favour of a plan that includes a massive pay package for the company's founder and chief executive. NEW YORK: Tesla CEO Elon Musk said late on Wednesday that the electric vehicle company's shareholders were voting to approve his multibillion-dollar pay package by"wide margins" before the ballot had been concluded.
Winners would also get choice seats for Tesla's annual meeting, to be held Thursday afternoon in Austin. In April, Tesla revived the package, with chair Robyn Denholm imploring investors to"fix this issue" after the Delaware ruling. A defeat for the plan could"increase uncertainty regarding the future leadership of the company and jeopardise the 'Musk premium'" should the unpredictable chief executive exit, according to Nelson."Shareholders should ask themselves this question: is Tesla better off with or without Elon," Baron said in a public letter.
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