Tesla investors back record-breaking Musk pay deal | BBC News

From BBC News.

Tesla shareholders have backed a record-breaking pay package for boss Elon Musk and approved a plan to move the firm’s legal headquarters to Texas.

The package was blocked earlier this year by a judge in Delaware over concerns it was unfair to shareholders.

The vote is a victory for the multi-billionaire, who had campaigned fiercely for the payout, which is worth up to $56bn (£43.9bn).

Its exact amount depends on the Tesla share price.

"Hot damn, I love you guys," he told a crowd of enthusiastic shareholders who had gathered in Texas for the firm’s annual meeting.

But the vote is not binding and legal experts have said it is not clear if the court that blocked the deal will accept the re-vote and allow the company to restore the pay package.

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