Tesla Seeks Shareholder Support for Musk's $55 Billion Compensation Plan Amid Legal Challenges

Tesla has launched a new website to persuade shareholders to approve Elon Musk's controversial $55 billion compensation package, previously invalidated by a Delaware court.

Tesla has initiated a campaign through a new website, urging shareholders to reapprove Elon Musk's $55 billion compensation plan, which a judge had previously invalidated due to governance concerns.
The compensation plan, originally approved in 2018, was rescinded after a judge ruled that Tesla's board did not adequately disclose its terms and potential conflicts of interest.
Tesla's new website claims that the compensation plan aligns with shareholders' interests and is crucial for the company's future, despite the legal setback.
In addition to the compensation vote, Tesla shareholders will also decide on relocating the company's incorporation to Texas and reelecting board members, including Musk's brother, Kimbal.
The company faces criticism for not addressing the judge's concerns about the compensation plan's approval process, which involved board members with close ties to Musk.