Tesla pops 6% in premarket after Elon Musk says he is set for victory in $56 billion pay vote

Posted: Jun 13, 2024

- $TSLA (Tesla) shares rose 6.39% in premarket trading after Elon Musk mentioned shareholders likely approving $56 billion pay package and moving company's incorporation to Texas - Shareholders voting on two resolutions: pay package and transfer of incorporation - Critics believe pay package is excessive due to Tesla's financial performance and competition - Notable shareholders and proxy advisors recommend voting against the deal - Supporters argue Musk is essential for Tesla's success and the package incentivizes him - Billionaire investor Ron Baron is in favor of the pay package, stating Tesla is better with Elon - Vanguard and Blackrock have not disclosed their voting decisions. - Tesla stock ($TSLA) increased by 6% in premarket trading after Elon Musk announced victory in a $56 billion pay vote - Shareholders are set to approve Musk's controversial pay package and relocation of Tesla's incorporation to Texas - Critics argue the pay deal is excessive and distracting, while supporters claim Musk's compensation is necessary for Tesla's success - Notable shareholders and proxy advisors have expressed opposition to the pay package - Musk stated that both resolutions are currently passing by "wide margins" - Major investors like Vanguard and Blackrock have not disclosed how they will vote





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