According to current information from the American analysis company Morningstar, Tesla demands Shareholders once again approved a $56 billion compensation package for CEO Elon Musk. It would be a good 52 billion euros. The company is also seeking approval for its planned move to Texas.

According to the report, a stock filing shows that Elon Musk currently receives no compensation for his role as CEO. But Tesla is trying to change that again.

$56 billion would be the highest salary in history

After that, the electric car pioneer plans to again ask shareholders to approve a $56 billion compensation package for Musk, which was previously rejected by a Delaware judge. The judge said Musk had extensive ties to the people who put together the rejected compensation package in 2018. So he could have tilted the deal in his favor.

Tesla's board of directors disagrees with the court's decision. Texla board chair V Robyn Denholm (“board chair”) called Wednesday’s decision “fundamentally unfair and contrary to the will of the shareholders who voted in favor.” The Australian continued: Shareholders “have the opportunity to make their voices heard again.” Denholm said, “We ask that you make your voice heard again by approving the ratification of Elon's 2018 compensation plan.”

Tesla could go to Texas and avoid restrictions

As Morningstar further reports, Tesla, like many other companies, is incorporated in Delaware, which gave that state's court jurisdiction over the issue of compensation. However, Tesla also talks about a planned move to Texas. Experts see this as an attempt to take advantage of a legal structure that is more generous when it comes to compensation and other issues. The company has just presented this legal step to its shareholders for approval. Large shareholder Elon Musk will surely vote in favor.

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