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On June 13, Tesla shareholders will vote on whether to restore a pay package CEO Elon Musk was granted in 2018, previously valued at $56 billion. Earlier this year, the compensation plan was rescinded by a Delaware judge, who argued that the billionaire was overpaid and investors were misled about the independence of the board when they approved it the first time around.
There’s a fairly straightforward reason why this pay package has attracted so much scrutiny, according to Ani Huang, president and CEO of the Center On Executive Compensation, a division of the HR Policy Association: “Because it’s $56 billion,”