Try GOLD - Free
Musk offers Tesla factory tours to 15 shareholders who vote on his pay plan
The Straits Times
|May 30, 2024
Billionaire Elon Musk is offering tours of Tesla's factory in June to 15 shareholders who vote on his US$56 billion (S$75.5 billion) pay package, the latest effort by the electric vehicle maker to rally votes for the compensation after a court struck it down.
-
The upcoming vote, whose result will be announced at the company's annual meeting on June 13, is seen as a referendum on Mr Musk's leadership as investors worry that he is distracted by his other ventures and that his often controversial comments are weighing on the reputation and sales of Tesla.
The company is making an unusual and public effort to rally support for Mr Musk's pay. Its board has justified the pay deal by saying it is necessary to make sure Mr Musk prioritises Tesla over his other commitments.
Tesla has asked shareholders to reaffirm their approval of the record-breaking compensation that was set in 2018 but was rejected by a judge who found the package was negotiated by directors who appeared beholden to Mr Musk.
This story is from the May 30, 2024 edition of The Straits Times.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Straits Times
The Straits Times
Students lead effort to save birds from crashing into iconic NTU building
Birds would fly straight into the glass facade thinking the windows are part of landscape
4 mins
November 03, 2025
The Straits Times
'What we promise, we deliver': Sunway founder on building a legacy of trust
Tycoon seeks to make conglomerate a major gateway from S'pore to Malaysia
4 mins
November 03, 2025
The Straits Times
Why renewables are difficult to talk about at UN climate summits
When the 2035 climate targets of countries are scrutinised at the upcoming United Nations climate change conference COP30 in Brazil, the spotlight will be on whether the nations have done enough to meet a collective goal to ramp up clean energy adoption.
4 mins
November 03, 2025
The Straits Times
Benz Hui's family to donate all condolence money to charity
All the condolence money for veteran Hong Kong actor Benz Hui will be donated to the Children’s Cancer Foundation, his family said in an obituary released on Oct 31.
1 mins
November 03, 2025
The Straits Times
Dear Evan Hansen still moves with its message of feeling included
The title's second outing in Singapore features a larger cast and set, and has maintained the relatability and heart of the story
2 mins
November 03, 2025
The Straits Times
From Vanuatu to Yishun: The plant giving S’pore fall colours all year
As the weather cools in the Northern Hemisphere, fall foliage is sure to draw the eye. But even in tropical Singapore, the colours of autumn can be enjoyed year round - in Gardens by the Bay and along the country’s streetscapes, from Yishun to Bukit Panjang.
5 mins
November 03, 2025
The Straits Times
Nearly half of Cat A COEs go to EVs in first 9 months of 2025
EVs make up 43% of new car registrations, up from 33.8% in 2024 and 18.2% in 2023
2 mins
November 03, 2025
The Straits Times
Youth who faced family tragedy among 12 inaugural President's Challenge fellows
Growing up in a troubled family, Ms Shirlene Ng was 13 when she witnessed her mother take her own life. Her mental health took a hit.
3 mins
November 03, 2025
The Straits Times
An uneven muddle of themes and genres
A deeper dive into the intergenerational female trauma of Congratulations, Get Rich! would make for a — pun intended — richer story
2 mins
November 03, 2025
The Straits Times
Backyard cafes in JB village give owners hope of lease extension
Locals bank on increased economic activity boosting their case, preserving area’s heritage
5 mins
November 03, 2025
Listen
Translate
Change font size