Shareholders Urged to Reject Elon Musk's $56B Pay Package

Proxy advisory firm Glass Lewis has advised Tesla shareholders to reject Elon Musk's proposed $56 billion pay package, citing its excessive size, potential dilutive effects, and Musk's numerous other commitments, including his acquisition of Twitter. The package, which has no salary or cash bonus, is based on Tesla's market value reaching $650 billion over ten years. Tesla's board, which has close ties to Musk, supports the package, arguing it rewards the company's significant growth. Glass Lewis also criticized Tesla's proposed move to Texas, suggesting it poses additional risks to shareholders.