Vanguard’s Support Helps Pass Elon Musk’s $56 Billion Pay Package at Tesla
Reuters exclusively reported that Tesla’s largest outside investor, Vanguard, voted in favor of CEO Elon Musk’s record-setting $56 billion pay package, citing the company’s performance as a key factor in the decision.
Market Impact:
Musk’s pay package faced scrutiny earlier this year when it was invalidated by a Delaware judge. However, with Vanguard’s support, the compensation was ultimately passed, despite opposition from top proxy advisers and other big investors.
This news highlights the significant impact that major investors can have on corporate decisions, and the importance of performance in determining executive compensation. Investors and shareholders should pay attention to such developments as they can affect the company’s financial health and overall market trends.
