Tesla is making a strong effort to secure approval for Elon Musk’s $56 billion pay package. This includes efforts such as hiring outside personnel and preparing a persuasive “tour” for board members to sway shareholders towards voting in favor.
After a Delaware judge denied Musk’s pay package earlier this year, Tesla is leaving no stone unturned to ensure its CEO is duly rewarded for his impact on the company. The $56 billion package has been earned through a series of tranches for company and shareholder growth.
With Tesla’s Shareholder Meeting approaching, the company is intensifying its efforts. Retail investors, who own 42 percent of Tesla’s stock, are a key focus.
The outcome of the fight for Musk’s payout could have significant implications for Tesla. Musk has expressed his desire for a 25 percent equity stake in Tesla, warning that a failure to achieve this could lead him to consider building AI technology elsewhere.
In response, Tesla is taking steps to woo retail shareholders to support the payout, going as far as to plan a global campaign to garner additional support.