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Tesla Shareholders to Vote on Elon Musk’s Pay Package

Under Elon Musk’s leadership, Tesla popularized electric vehicles and became the most valuable auto company in the world. Mr. Musk became a billionaire many times over while generating huge profits for investors.

Even so, Tesla’s shareholders may decide this week that Mr. Musk has been paid too much.

In a vote whose results will be announced on Thursday, the investors could strike down a compensation package — paid in stock options and currently worth $45 billion — that makes up a substantial portion of Mr. Musk’s wealth.

With it, he is probably the richest person in the world, worth well over $200 billion. Without it, he could rank behind other billionaires like Jeff Bezos of Amazon.

Shareholders approved the pay formula in 2018 but are voting on it for a second time because a judge in Delaware voided the package in January. She ruled that Mr. Musk had largely dictated the terms to a board of directors stacked with close friends, people he made rich and his brother.


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