FILE PHOTO: Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of Twitter, gestures as he attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, France, June 16, 2023.
Big investors have sent mixed signals. T. Rowe Price has said the package showed"strong alignment" with investor interests. But the California Public Employees' Retirement System meanwhile has said it will likely oppose Musk's pay as not commensurate with Tesla's performance, and Norway's sovereign wealth fund came out against the pay package on Saturday.
In a post on his social media platform X on Saturday Musk wrote:"So far, roughly 90 per cent of retail shareholders who have voted have voted in favor of both resolutions," apparently including the one on his pay. "We want those ideas, that energy and that time to be at Tesla, for the benefit of you, our owners. But that requires reciprocal respect,” she wrote in a June 5 letter.Data and research firm S&P Global Market Intelligence found that as of June 5, about 43 per cent of Tesla's common stock is held by the"public and other" category of shareholders that includes retail investors and others outside of the main categories of institutional investors and company insiders.
"Many support Musk and see the importance of compensating him but many are also upset about a variety of factors: politics, slowing sales, stock price etc," Qazi said by direct message on X.
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