Elon Musk's $45 Billion Payday Reaffirmed by Tesla Shareholders Despite Controversy

At the annual meeting in Austin, Texas, Tesla shareholders have reaffirmed a pay award surpassing $45 billion for Elon Musk. The announcement was made after Mr. Musk posted the news on his social media platform, X, the previous night. He expressed gratitude for the support, as both Tesla shareholder resolutions were passing with wide margins.

Musk's Social Media Influence

Mr. Musk's supporters have actively utilized the social media site, which he acquired for $44 billion in 2022, to garner backing for his substantial payday. However, concerns have been raised by some Tesla investors regarding Mr. Musk's involvement with X. They worry that the pay package has diverted his focus away from Tesla and towards other ventures. Moreover, Mr. Musk's use of the platform to endorse right-wing conspiracy theories and inappropriate content has offended employees and investors, further fueling apprehensions about his priorities.