Elon Musk wins $56 billion Tesla pay package, 70% larger than Nigeria’s external reserve

Elon Musk, the billionaire CEO of Tesla and owner of the social media platform X, has successfully secured shareholder approval for his substantial compensation package.

Tesla shareholders reiterated their support for Musk’s $56 billion pay deal and have given the green light for the company’s relocation to Texas, reflecting strong confidence in Musk amid his ongoing legal battles.

During Tesla’s annual shareholder meeting in Austin, Texas, Musk expressed his gratitude, saying, “Hot damn I love you guys,” after the votes were counted.