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Tesla's Largest Outside Investor Vanguard's Vote Switch Helped Pass Elon Musk's $56B Pay Package

Benzinga LogoBenzinga6d ago

Tesla's Largest Outside Investor Vanguard's Vote Switch Helped Pass Elon Musk's $56B Pay Package - Benzinga

Quick Summary:

At Tesla Inc.'s (NASDAQ:TSLA) recent shareholder meeting, the influential investment firm Vanguard was pivotal in approving CEO Elon Musk's notable $56 billion compensation package, affirming their support based on Tesla's exceptional performance and shareholder value creation.

Vanguard's endorsement of Tesla comes after initially opposing Musk's remuneration plan in 2018 due to concerns over its size relative to company performance.

However, the alignment of Musk's compensation with Tesla's substantial shareholder returns since then led to a change in their stance, according to a report from Reuters.

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Tesla's Largest Outside Investor Vanguard's Vote Switch Helped Pass Elon Musk's $56B Pay Package - Benzinga (Picture 1)

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Article Details

Author / Journalist: Shivani Kumaresan

Category: Technology

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-14 @ 14:50:55 (6 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 504 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 21254564

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Main Topics: Technology

Official Website: benzinga.com

Update Frequency: 25 posts per day

Year Established: 2010

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News Last Updated: 8 hours ago

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Publisher ID: #53

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