Tesla shareholders have approved a $56 billion compensation package for CEO Elon Musk.
The approval was confirmed at Tesla's annual general meeting by a large majority, as announced by Musk on his social media platform, X. He expressed gratitude to the shareholders for their support.
A source familiar with the preliminary count confirmed to Reuters that the shareholder resolutions on Musk's compensation and Tesla's move to Texas were approved by a large majority.
The approval of Musk's compensation is seen as a vote of confidence from investors.
The package had previously been overturned by a court.
