Good morning from Geneva.
If Larry Fink and Elon Musk got into an ideological fight over capitalism, who would win? The answer, it turns out, is shareholder democracy.
“We believe in stockholder democracy—your rights need to be protected,” Tesla wrote on VoteTesla.com last month as it rallied support for its CEO’s enormous compensation. On Thursday, we will know whether that backing of shareholder democracy has paid off when Tesla investors vote to “ratify” or reject Musk’s pay package of $56 billion, which was negotiated and approved back in 2018, but struck down by a Delaware judge earlier this year.
