Elon Musk on Wednesday claimed that Tesla shareholders are re-approving his monster pay package worth up to $56 billion that was struck down by a judge earlier this year.
In a post on X, Musk claimed the shareholder resolution for his colossal pay deal and another which would move Tesla’s legal home from Delaware to Texas were “currently passing by wide margins!” “ Thanks for your support!! ” he added.
Musk, who is estimated to be worth around $210 billion, could still face legal hurdles in making his pay package a reality even if the final result of the shareholder vote goes his way.
In January, a Delaware judge blocked the compensation package—which was originally passed in 2018—arguing that the process by which it had been reached was unfair and involved sham negotiations.
Shareholders could also still change their vote before the start of Tesla’s annual meeting at the company’s headquarters in Austin on Thursday, according to Reuters, where the result is expected to be announced.
Musk reacted furiously to the decision from Delaware’s Court of Chancery when his pay package was voided in January. “Never incorporate your company in the state of Delaware,” he posted. He then ran a poll on X asking if Tesla should “change its state of incorporation to Texas,” which received an overwhelming “Yes” vote from his followers on the platform.
Among those who congratulated Musk on the shareholder votes was Texas’ Republican Gov. Greg Abbott. “Congrats Elon on getting the pay you were promised and on your new incorporation in Texas,” Abbott wrote. “Welcome to a state that has neither a personal nor a corporate income tax.”
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