Sunday, September 7, 2025
  • Login
Forbes 40under40
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
Forbes 40under40
No Result
View All Result
Home Technology

Musk offers factory tours to investors as he seeks support for his US$56 billion pay package

by Riah Marton
in Technology
Musk offers factory tours to investors as he seeks support for his US billion pay package
Share on FacebookShare on Twitter


ELON Musk is offering factory tours to 15 Tesla shareholders who vote on his US$56 billion pay package at the upcoming meeting, the latest effort by the electric vehicle maker to rally votes for the compensation after a court struck it down.

The upcoming vote is seen as a referendum for Musk’s leadership at a time when investors worry that he is distracted by his other ventures and that his often controversial comments are weighing on the reputation and sales of Tesla.

The company is making an unusual and public effort to rally support for the Musk’s pay.

“Don’t delay, vote today!” Tesla said on Tuesday.

The tour to Tesla’s production lines for Cybertrucks and Model Ys in Texas will take place on June 12, the day before Tesla’s annual shareholders’ meeting, Tesla said on its website.

“Please let us know if you have any questions about voting your Tesla shares!” Musk said on social media platform X, formerly known as Twitter, which he owns.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Musk has threatened to build artificial intelligence products outside of Tesla if he can’t get 25 per cent voting power at Tesla, the world’s most valuable automaker.

Musk, the world’s richest person, currently owns around 13 per cent of Tesla stock, and exercising his stock options would result in him owning a total of 22 per cent of the company.

He has also started AI company xAI, which raised US$6 billion in its latest funding.

Tesla has asked shareholders to reaffirm their approval of Musk’s record-breaking US$56 billion compensation that was set in 2018, but was rejected by a judge who found the package was negotiated by directors who appeared beholden to Musk.

The move came shortly after Musk said Tesla is laying off more than 10 per cent of its global workforce amid falling sales and intensifying competition, especially from Chinese rivals.

Proxy advisory firm Glass Lewis said on Saturday it has urged Tesla shareholders to reject the pay package, citing Musk’s “slate of extraordinarily time-consuming projects.”

According to data and research firm S&P Global Market Intelligence, 44 per cent of Tesla’s common stock is held by nonprofessional shareholders that include retail investors.

That is the most of any of the 10 largest companies including Apple and Nvidia in the S&P 500 by market capitalisation. REUTERS

Tags: BillionFactoryInvestorsMuskOffersPackagePaySeeksSupportToursUS56
Riah Marton

Riah Marton

I'm Riah Marton, a dynamic journalist for Forbes40under40. I specialize in profiling emerging leaders and innovators, bringing their stories to life with compelling storytelling and keen analysis. I am dedicated to spotlighting tomorrow's influential figures.

Next Post
American Airlines cuts profit outlook as commercial chief departs

American Airlines cuts profit outlook as commercial chief departs

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Forbes 40under40 stands as a distinguished platform revered for its commitment to honoring and applauding the remarkable achievements of exceptional individuals who have yet to reach the age of 40. This esteemed initiative serves as a beacon of inspiration, spotlighting trailblazers across various industries and domains, showcasing their innovation, leadership, and impact on a global scale.

 
 
 
 

NEWS

  • Forbes Magazine
  • Technology
  • Innovation
  • Money
  • Leadership
  • Real Estate
  • Lifestyle
Instagram Facebook Youtube

© 2025 Forbes 40under40. All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle

© 2024 Forbes 40under40. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In