Tesla CEO Elon Musk will get his $44.9 billion pay package, shareholders voted on Thursday, indicating a strong level of confidence in his leadership for the electric vehicle company. A Delaware judge had thrown out the pay package earlier this year.
However, the all-stock compensation package is probably going to remain tied up in the Delaware Chancery Court and Supreme Court as Tesla tries to reverse the judge’s decision.
Musk told shareholders on Thursday that he plans to remain with the company, adding that he can’t sell any stock from the pay package for the next five years. However, the CEO wrote on X earlier this year that he wanted a 25% stake in the company or he might take artificial intelligence development somewhere else.
“It’s not actually cash, and I can’t cut and run, nor would I want to,” he said.
