Musk claims Tesla backers are in favor of the pay deal.

Musk claims Tesla backers are in favor of the pay deal:

Elon Musk, the CEO of Tesla, claims that plans to relocate the company's legal headquarters to Texas and approve a record-breaking payout to the multibillionaire are "currently passing by wide margins" in shareholder voting.
Voters for Tesla are considering a number of proposals, one of which might validate Elon Musk's salary agreement, which was first agreed upon in 2018 and was valued at $56 billion (£43.8 billion).
The business is scheduled to hold a meeting on Thursday to formally announce the outcome of the vote.
When BBC News asked Tesla for a comment, the company did not answer right away.
Elon Musk expressed gratitude to his followers in a message on social media site X, formerly known as Twitter.

Legal experts point out that it is unclear whether the court that halted the contract will recognize the non-binding re-vote and permit the firm to reinstate the compensation package.

Tesla's pay dispute puts Elon Musk's aura to the test:

A minor investor sued, and a Delaware judge nullified the pay agreement earlier this year.
The judge declared that the amount was "unfair" and that the board, which was presided over by Mr. Musk, had used a "deeply flawed" procedure to determine the package.
* "Fundamentally unfair, and inconsistent with the will of the stockholders" was how Tesla described the ruling.
After that, the business put the agreement to a second vote and requested support from its shareholders for a proposal to reorganize the business outside of Delaware.
A minor investor sued, and a Delaware judge nullified the pay agreement earlier this year.
The judge declared that the amount was "unfair" and that the board, which was presided over by Mr. Musk, had used a "deeply flawed" procedure to determine the package.
* "Fundamentally unfair, and inconsistent with the will of the stockholders" was how Tesla described the ruling.
After that, the business put the agreement to a second vote and requested support from its shareholders for a proposal to reorganize the business outside of Delaware.

According to the board, Mr. Musk deserves the package since it was under his leadership that Tesla met its lofty goals, and it is imperative that he continue to be committed to the business.

In social media posts, Tesla executives also endorsed the package, stating that Elon Musk is essential to the company's success.
In the meantime, Mr. Musk assured some shareholders who voted that they would receive an intimate tour of Tesla's Texas factory.

73% of shareholders who voted six years ago supported the package, which is believed to be worth 300 times more than the salary of the top-earning CEO in the US made last year.