Tesla vote results shareholders said ‘yes’ again to his ~$55B in pay, claims Musk

Tesla shareholders have once again approved Elon Musk's controversial $55 billion pay package.

Musk shared charts on Twitter suggesting that both the pay package and the proposal to move Tesla's incorporation to Texas have passed.

This saga began in 2018 when shareholders approved Musk's massive compensation package,

which was later voided by the Delaware Court of Chancery.

The court found Tesla's board lacked independence and failed to properly inform shareholders.

Delaware is a popular state for incorporation due to its established caselaw, offering predictable outcomes in lawsuits.

Texas, however, is trying to position itself as a business-friendly alternative, though it lacks Delaware's legal history.

Tesla has been campaigning hard for weeks, even spending ad money to influence shareholders.

The pay package required 50% of votes cast, while the redomiciling proposal needed 50% of total shares outstanding, making turnout crucial.

Hours before the deadline, Musk tweeted that both resolutions were passing by wide margins.

However, the charts showed fewer votes for the pay package compared to the Texas move, highlighting Musk's controversial standing among shareholders.