Tesla Plans To Give Musk The Biggest Pay Package In History

Tesla's board of directors is making a bold move to reinstate Elon Musk's $47 billion compensation plan, despite a recent court ruling against it. The plan, previously invalidated by a Delaware judge, will be resubmitted to shareholders for approval. This comes alongside Tesla's proposal to relocate the company's registration to Texas from Delaware. The payday, which will restore his status as one of the world’s richest people, highlights the board's unwavering support for Musk. This comes two days after Tesla told employees that it would lay off 10% of its work force, or about 14,000 people. This decision, which comes amid declining sales and layoffs within the company, risks further legal challenges and investor scrutiny. "Asking for people to approve one of the largest pay packages of all time, when the company is failing to meet current targets and terminating 10 percent of employees, it’s terrible timing," said Antoine Argouges, Chief Executive, Tulipshare, Activist Investor Group.