Musk says Tesla shareholder vote for US$56bil pay package passing by wide margins

FILE PHOTO: Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of X looks on during the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, California, U.S., May 6, 2024. REUTERS/David Swanson/File Photo

TESLA shareholder resolutions on Chief Executive Elon Musk's pay package and its move to shift legal headquarters to Texas are currently passing by wide margins, Musk said in a post on social media platform X on Wednesday.

Shareholders of electric-car maker Tesla are voting on a proposal to ratify CEO Musk's 2018 incentive package, valued at up to $56 billion at the time. The result will be announced at a meeting on June 13.