Elon Musk Mocks Delaware With Farewell Cake After Shareholders Approve Move To Texas: 'Vox Populi, Vox Dei'
Portfolio Pulse from Anan Ashraf
Tesla Inc. (NASDAQ:TSLA) shareholders have approved the move of the company's legal headquarters from Delaware to Texas. This decision follows a dispute over Elon Musk's $56 billion pay package, which was rescinded by the Delaware Court of Chancery. The shareholders also reapproved Musk's pay package, giving him significant legal leverage.
June 14, 2024 | 6:51 am
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Tesla shareholders have approved moving the company's legal headquarters to Texas and reapproved Elon Musk's $56 billion pay package. This move follows a dispute with the Delaware Court of Chancery.
The approval to move Tesla's legal headquarters to Texas and the reapproval of Musk's pay package are significant wins for the company and its CEO. This could positively impact Tesla's stock price in the short term as it resolves legal distractions and aligns with shareholder interests.
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