“The only limit to our realization of tomorrow is our doubts of today.” - Franklin D. Roosevelt
Elon Musk's Commitment to Tesla
Addressing shareholders after the vote, he promised that he was committed to Tesla. The pay package, he said, “is not actually cash, and I can’t cut and run, nor would I want to.” Tesla shares rose on Thursday ahead of the official announcement of the results after Mr. Musk said on X that the pay plan was passing by a wide margin.
The legal battle over the compensation plan is far from over, but we think the vote greatly strengthens Tesla’s case. Garrett Nelson, a stock analyst with CFRA Research, said in a research note on Thursday. But some legal experts questioned whether a yes vote would cause Chancellor McCormick to revise her ruling, and Tesla has acknowledged that the vote would not necessarily resolve the case.
Tesla did not immediately disclose vote totals for any of the proposals. The compensation vote pitted those who regard Mr. Musk as a genius who has revolutionized the auto industry against those antagonized by his polarizing statements on X and recent slumps in Tesla sales and earnings.
But other shareholders have been dismayed by recent declines in Tesla sales and profit and by Mr. Musk’s polarizing statements on X, where he has endorsed some right-wing conspiracy theories and offended significant numbers of buyers.