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International Business Times UK
International Business Times UK
Vinay Patel

Shareholders Approve Elon's $56B Pay But He Won't Get The Money Just Yet - Here's Why

Elon Musk Tesla Inc. United States Delaware Ann Lipton Kathaleen McCormick Lawsuit
Musk's pay tied to Tesla's performance. Shareholder vote approves plan, but lawsuits allege Musk diverted resources and further legal battles expected. (Credit: YouTube Screenshot / Tesla)

Tesla shareholders voted in favour of Elon Musk's pay package at Thursday's annual meeting, following weeks of campaigning by the company. However, he will not receive the compensation immediately.

Tesla shareholders endorsed a $45 billion pay package for Musk following a hard-fought vote of confidence. The result comes as the 52-year-old billionaire tycoon battles for the largest-ever executive compensation package awarded by a US publicly traded company.

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