Elon Musk's personal fortune is set to increase another 25% after Tesla shareholders agreed to pay him a $56 billion bonus. Musk, who is currently the world's richest man with a fortune worth more than $200 billion, was denied this reward by a judge in Delaware last February because of opposition from shareholders.
The vote to continue paying Musk and moving the company from Delaware to Texas took place on June 12. The shareholders also agreed to move the company to Texas. Even if shareholders agree to give the largest compensation to a CEO in the history of the world, it does not mean that Musk will accept it. This is because the case is still being heard in Delaware after Musk appealed the original court decision.
In the original agreement, Tesla promised to pay Musk $56 billion if he met sales targets and increased the company's market value. But some shareholders claim Musk's rewards are excessive and would be better reinvested in a company that has already lost its status as the number one EV manufacturer to BYD. Those who want to deny the reward also say that Musk is now losing focus on Tesla because he is focusing more on X/Twitter and xAI.
