Tesla Faces Strong Opposition Over Elon Musk's $56 Billion Pay Package

Proxy advisors and major investors challenge the compensation plan ahead of the June 13 shareholder vote.

Institutional Shareholder Services and Glass Lewis recommend voting against Musk's pay package, calling it excessive.
Tesla defends the package, emphasizing Musk's role in boosting the company's market value by $735 billion since 2018.
Major investors, including CalPERS, plan to vote against the compensation, questioning its fairness and alignment with shareholder interests.
Tesla proposes reincorporating in Texas, citing Delaware's unfavorable court ruling on Musk's pay.
The shareholder vote will also address the re-election of board members and other company proposals.