Tesla shareholders vote to give CEO Elon Musk his $44.9 billion pay package, AP Explains

Tesla shareholders today approved Elon Musk's pay package. They restored it essentially after it was struck down by a Delaware Chancery Court judge back in January. It's worth about $44.9 billion right now. It was at one time worth 56 billion. But the stock of Tesla has dropped and that therefore the value of the package has dropped. He's not going to get it immediately though. It's an all stock package and it still has to go back to the Delaware Chancery Court. Where they'll get a ruling. On whether or not this vote was enough to reverse the judge's order, it's a vote of confidence in Musk keeps him in the job for probably at least five years running Tesla. The shareholders also approved moving Tesla's legal corporate headquarters out of Delaware to Texas, presumably to try to get away from this Delaware court which struck down the pay package and get away from any further rulings and have them decided in in Texas.

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