Tesla turns to Musk's small shareholder fans to back $56 billion payday


FILE PHOTO: Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of Twitter, gestures as he attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, France, June 16, 2023. REUTERS/Gonzalo Fuentes/File Photo/File Photo

(Reuters) - With major Tesla shareholders appearing divided over whether to endorse Elon Musk's $56 billion pay package, the company also is looking for support from retail investors who make up an unusually high percentage of the electric carmaker's ownership base.

Small investors tend to favor management, but they often don't bother to vote, experts said.

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