Connect with us

Hi, what are you looking for?

Financial Source ReportFinancial Source Report

Tech News

Tesla shareholders approve Elon Musk’s massive pay package — was there ever any doubt?

Photo illustration of Elon Musk surrounded by raining dollar bills.
Image: Cath Virginia / The Verge, Getty Images

Tesla shareholders voted today to reapprove Elon Musk’s gigantic pay package, after a Delaware court judge voided it earlier this year, according to preliminary results. Investors also approved a proposal to move the company’s legal home from Delaware to Texas and to reappoint two board members: James Murdoch and Kimbal Musk, Elon’s brother.

The vote was widely seen as a referendum on Musk’s leadership during a time of great upheaval for Tesla, which has seen its stock price slide on news of shrinking sales, softening demand, and declining revenue. The company has laid off at least 10 percent of its workforce, its vehicle lineup is aging and in need of a shake-up, and the success of Musk’s bet on AI and robotics is far from certain.

In…

Continue reading…

You May Also Like

Editor's Pick

“Caius Gracchus” Babeuf came to Paris in 1790 and imbibed the revolutionary atmosphere. Five years later, he founded the secret Conspiracy of the Equals.

Tech News

Image: FromSoftware Playing Erdtree was a lesson in humility I needed. Continue reading…

Tech News

I can’t afford an actual house in this hellish economy, so a virtual one will have to do. | Image: Snap Snapchat Plus subscribers...

Tech News

Photo by Getty Images Car dealerships hamstrung by outages following two cyberattacks against CDK Global in June might finally be able to use their...

Copyright © 2023 FinancialSourceReport.com All Rights Reserved.