Business: Tesla shareholders approved a huge salary package for the company’s CEO Elon Musk, whose value could reach $ 1 trillion, or about Rs 83 lakh crore. This proposal was passed with more than 75% votes in the company’s annual meeting.

This decision was taken keeping the goal in mind
This package has been designed keeping in mind the goal of keeping Musk associated with Tesla for a long time and making the company a leader in Artificial Intelligence and Robotics. After this decision, Musk said that I thank all the shareholders wholeheartedly, it means a lot to me. Along with this, Musk was seen dancing happily with the robot.

Musk’s name remained in political controversies
Apart from business, Musk’s name has been involved in political controversies many times, especially regarding his support for leaders like US President Trump. But this decision shows that investors’ faith in him is still intact.

Musk will have to remain connected to Tesla for seven and a half hours
Under this decision, Musk will have to remain associated with Tesla for at least seven and a half years. With this, his stake in the company may increase from about 12% to 25%. Tesla chairperson Robin Denholm said that retaining Musk is extremely important for the company’s future, and if he left the company, the shares could fall significantly.

What does Musk have to say?
Musk says that if Tesla achieves its goals in automated driving and AI, it will become the most valuable company in the world. Along with this, Musk has indicated that if his ownership stake is not increased so much that he can have the desired influence on Tesla’s future, he may leave Tesla or withdraw.

If Musk separates from the company, there is a possibility of a huge fall in the shares.
Robin Denholm appealed to shareholders to vote in favor of Elon Musk’s huge pay package, saying that retaining Musk is extremely important for the future of the company. He warned that if Musk separated from the company, Tesla’s shares could see a huge decline. During this time, the company board has also ignored the criticisms which said that billionaire Musk’s association with controversial political faces could affect Tesla’s sales.

Shareholders’ confidence intact
Tesla investors have previously stood out strongly in support of Musk’s pay packages. In 2018, a compensation package of about $55.8 billion was approved by shareholders, although the Delaware Court has banned it several times. Denholm and the Tesla board began work on a new strategy following the latest Delaware decision. In August, the board first approved an interim pay package for Musk worth about $29 billion and then recently presented a new, much larger proposal, which this time was passed with overwhelming support by shareholders.