Elon Musk's Victory

We’ve finally learned the result of a controversial, long-awaited vote that’s generated reams of punditry and put Wall Street on edge. No, I’m not talking about the mayoral election in New York City—I’m talking about the Tesla shareholder vote on Elon Musk’s gigantic compensation package. 

Musk won with over 75% of the vote, Tesla said at its annual meeting at the company’s Gigafactory in Texas on Thursday. The package will award him up to $1 trillion worth of additional Tesla shares over the next decade if he’s able to meet a host of sky-high targets. Shareholders also supported the idea of Tesla investing in Musk’s xAI, the company said, although there was a “significant number” of shareholders who abstained from voting on the issue. That clouds the question of  how much support the proposal has. The board will consider what to do next, the company said.