Elon Musk Aims for the Moolah: Tesla Shareholders Gear Up to Decide on His $56 Billion Payday!

Alright, folks, strap in because we're talking about the one, the only, Tesla (TSLA)!

Now, the man of the hour, Elon Musk, is back in the spotlight. What's he up to this time? Well, it looks like he's got some serious backing for his jaw-dropping $56 billion pay package. That's right, folks, 56 BILLION!

Elon tweeted that about 90% of retail shareholders are all in for this massive payday. Let that sink in! With retail investors holding around 45% of Tesla’s tradable shares, if Elon's math checks out, he just needs a thumbs-up from about one in five institutional shareholders to seal the deal.

Now, not everyone's on the Musk train – CalPERS and Norway's sovereign wealth fund are throwing shade, and proxy advisors ISS and Glass Lewis are shouting “nay.” But hold the phone! Baron Capital and ARK Invest are waving their Elon flags high.

Remember, this isn't Musk’s first rodeo. Back in 2018, a similar package was greenlit with over 70% support, though a Delaware judge hit the brakes on it in January due to some disclosure snafus. But here we are again, round two, with the board tossing the same package up for a fresh vote.

At today's prices, those options are worth nearly $50 billion. And if Musk’s 411 million Tesla shares aren’t enough for ya, that’s about 13% of the whole pie.

A re-approval clears the air for Tesla stock. A rejection? Well, buckle up because figuring out Musk’s new paycheck would be anyone’s guess.

Keep your eyes peeled for the final verdict around June 13, folks. Meanwhile, Tesla stock has taken a bit of a beating this year, down 29%, lagging behind the Nasdaq Composite by 43 points.

And it's not just about Musk’s moolah; slowing EV sales are also giving investors the jitters.

So, stay tuned, grab your popcorn, and let's see how this high-stakes drama unfolds!

$Tesla (TSLA.US)$