FILE - Elon Musk, center, arrives for the 10th World Water Forum in Nusa Dua, Bali, Indonesia on Monday, May 20, 2024. A group of Tesla shareholders are asking investors to vote against a compensation package worth more than $40 billion for CEO Elon Musk, saying that it's not in the electric vehicle maker's best interest.
There's also concern that approval of the pay package will potentially lead to lawsuits arguing that it is corporate waste. And Musk is viewed as a part-time CEO at Tesla, with his time increasingly being spent on other business commitments, the letter said. They noted that if shareholders ratify the compensation package, it's possible that another plan will be put forth next year.
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