Tesla investors back $56bn pay deal for Elon Musk

Technology main Tesla’s shareholders have backed a record-breaking pay bundle for the corporate’s chief Elon Musk and even permitted a plan to maneuver the authorized headquarters of the corporate to Texas.

The deal was blocked earlier this yr by a choose in Delaware over considerations it was unfair to shareholders, BBC reported.

The voting is presumed a victory for the tech entrepreneur who had campaigned fiercely for the payout, which is value as much as $56bn, stories mentioned.

The actual quantity will rely upon Tesla share value.

“Hot rattling, I really like you guys,” Musk was quoted as saying by BBC to a crowd of enthusiastic shareholders who had gathered in Texas for the agency’s annual assembly.

The deal is value greater than 3,000 instances what the top-earning boss within the US made final yr, the British media reported.