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Elon Musk wins back his huge Tesla payday in overwhelming shareholder vote

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Elon Musk wins back his huge Tesla payday in overwhelming shareholder vote


DETROIT — Tesla shareholders voted Thursday to restore CEO Elon Musk’s record $44.9 billion pay package that was thrown out by a Delaware judge earlier this year.


What You Need To Know

  • The package is likely to remain tied up in the Delaware Chancery Court for months as Tesla appeals the rejection
  • The company sought the votes after a Delaware judge threw out the pay package in January
  • Tesla last valued the package at $44.9 billion in an April regulatory filing
  • The favorable vote doesn’t mean CEO Musk will get the all-stock compensation anytime soon

Vote totals weren’t immediately announced at Tesla’s annual stockholders’ meeting, but the company said they voted for Musk’s compensation plan, which initially was approved by the board and stockholders six years ago.

The favorable vote doesn’t necessarily mean that Musk will get the all-stock compensation anytime soon. The package is likely to remain tied up in the Delaware Chancery Court and Supreme Court for months as Tesla tries to overturn the rejection by a Delaware judge.

Tesla last valued the package at $44.9 billion in an April regulatory filing. It was once as much as $56 billion but has declined in value in tandem with Tesla’s stock, which has dropped about 40% in the last 12 months.

Chancellor Kathaleen St. Jude McCormick ruled in January in a shareholder’s lawsuit that Musk essentially controlled the Tesla board when it ratified the package in 2018, and that it failed to fully inform shareholders who approved it the same year.

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Tesla has said it would appeal, but asked shareholders to reapprove the package at Thursday’s annual meeting.

A separate issue to move the company’s legal home to Texas to avoid the courts in Delaware, where Tesla is registered as a corporation.

“Its incredible,” a jubilant Musk told the crowd gathered at Tesla’s headquarters and large factory in Austin, Texas. “I think we’re not just opening a new chapter for Tesla, we’re starting a new book.”

Legal experts say the issue of Musk’s pay will still be decided in Delaware, largely because Musk’s lawyers have assured McCormick that they won’t try to move the case to Texas.

But they differ on whether the new approval of the pay package will make it easier for Tesla to get it approved.

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Charles Elson, a retired professor and founder of the corporate governance center at the University of Delaware, said he doesn’t think the vote will influence McCormick, who issued a decision based on the law.

McCormick’s ruling essentially made the 2018 compensation package a gift to Musk, Elson said, and that would need unanimous shareholder approval, an impossible threshold. The vote, he said, is interesting from a public perception standpoint, but “in my view it does not affect the ruling.”

John Lawrence, a Dallas-based lawyer with Baker Botts who defends corporations against shareholder lawsuits, agreed that the vote doesn’t end the legal dispute and automatically give Musk the stock options. But he says it gives Tesla a strong argument to get the ruling overturned.

He expects Musk and Tesla to argue that shareholders were fully informed before the latest votes, so McCormick should reverse her decision. But the plaintiff in the lawsuit will argue that the vote has no impact and isn’t legally binding, Lawrence said.

The vote, he said, was done under Delaware law and should be considered by the judge.

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“This shareholder vote is a strong signal that you now have an absolutely well informed body of shareholders,” he said. “The judge in Delaware still could decide that this doesn’t change a thing about her prior ruling and doesn’t require her to make any different ruling going forward. But I think it definitely gives Tesla and Musk strong ammunition to try to get her to revisit this.”

If the ruling stands, then Musk likely will appeal to the Delaware Supreme Court, Lawrence said.

After the votes were announced, Musk began telling shareholders about new developments in the company’s “Full Self-Driving” system. He has staked the company’s future on development of autonomous vehicles, robots and artificial intelligence.

“Full Self-Driving” keeps improving with new versions, and there’s no question it will exceed the safety of human drivers, Musk said without giving a time frame.

“This is actually going to work. This is going to happen. Mark my words, this is just a matter of time,” he said.

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Despite its name, “Full Self-Driving” can’t drive itself, and the company says human drivers must be ready to intervene at all times. Tesla’s “Full Self-Driving” hardware went on sale late in 2015, and Musk has used the name ever since as the company gathered data to teach its computers how to drive.

In 2019, Musk promised a fleet of autonomous robotaxis by 2020, and he said in early 2022 that the cars would be autonomous that year. In April, Musk said the system should be ready in 2023.

Since 2021, Tesla has been beta-testing “Full Self-Driving” using volunteer owners. U.S. safety regulators last year made Tesla recall the software after finding that the system misbehaved around intersections and could violate traffic laws.



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Austin, TX

America 250 celebration: Texans who fought for independence honored in Austin – Texas – The Black Chronicle

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America 250 celebration: Texans who fought for independence honored in Austin – Texas – The Black Chronicle


(The Center Square) – As part of Texas’ celebration of the founding of the United States, a new monument was unveiled in Austin commemorating 69 patriots who fought for U.S. independence who later came to Texas.

Texas is also celebrating its first U.S. Navy fleet week in state history in the Houston area, where roughly 1,000 sailors and Marines are participating in nearly 200 events as part of the America 250 celebration. This also includes commemorating the Texas Navy, which helped win Texas’ independence from Mexico 190 years ago this April, The Center Square reported.

Gov. Greg Abbott and the leaders of the Texas Society Sons of the American Revolution unveiled a new monument honoring Texas revolutionary war patriots at the Texas State Cemetery in Austin.

Abbott, a direct descendent of a patriot who supported the cause of American independence, was also inducted into the Sons of the American Revolution and received the Silver Good Citizenship Medal.

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“It is appropriate to remember that today, April 18th, 251 years ago, the Battles of Lexington and Concord occurred with the shot heard around the world,” Mel Oller, president of the Texas Society of the Sons of the American Revolution, said.

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On the evening of April 18, Paul Revere rode from Boston to Charlestown warning colonists that British troops were coming. Several hundred Minute Men and colonial militia fought British soldiers the next morning in Concord and Lexington, the first battles of the American Revolutionary War.

The commemoration in Austin was important “to reflect on the courage, sacrifice and enduring principles that gave birth to the United States of America,” Oller said. “This monument stands as a tribute to those patriots and reminder to future generations of the ideas that continue to shape our Republic.”

“Texans played a role in the war too, and it’s important to recognize them, and the sacrifices they made for our freedom,” he said.

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“The history that is etched the United States into the annals of the greatest country in the history of the world,” Abbott said. As others try to rewrite American history or “try to condemn the glory of what America has been able to achieve,” Abbott said Texas was focusing on teaching children about U.S. and Texas history. “We must educate every generation about why it is that America grew from just a tenuous 13 colonies into the most powerful country in the history of the world.”

“There could hardly be a better time to dedicate this monument than during our 250th celebration of freedom, of independence,” he said. It’s “an enduring testament to the heroes who fought for that freedom that is unique to America.”

One of the greatest gifts Revolutionary War heroes gave Americans was freedom, Abbott said, “but freedom is not a one-time event. The fight didn’t end with the Treaty of Paris. It’s an everyday process, perpetually. Just as the patriots took to the hillsides to battle the Red Coats, modern day Patriots” continue to fight for freedom, including the failed policies of Marxism, he said. Many Texans’ ancestors “died for a country they would never get to see. Stories of these heroes must be told. Generations of Americans must be reminded of who they are and what they fought for.”

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There are 69 American Revolutionary War heroes listed alphabetically on the monument who later settled in Texas, including native Tejanos who fought for American independence, according to TSSAR.

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Listed first is John Abston, who enlisted in the militia in Virginia when he was 18. He fought alongside and under men like John Crockett, father of Davy Crockett, in one of the most pivotal battles of the war: the Battle of Kings Mountain, in South Carolina. He later moved to Collin County, Texas.

Another is José Santiago Seguín, the grandfather of Texas Revolutionary hero Juan Seguín, the first and only Tejano to be elected to the Republic of Texas Senate. He also fought with Sam Houston in the Battle of San Jacinto.

Another is Peter Sides, who fought with a North Carolina regiment against the British. He later joined the Gutierrez-Magee expedition in 1812 and was killed in 1813 at the Battle of Medina in what is now Bexar County. The battle is “known as the bloodiest battle on Texas soil. The rebels’ bodies were desecrated and their body parts were removed and scattered,” the TSSAR explains.

Another is William Sparks, who joined a North Carolina militia when he was 17. He and his family later moved to Nacagdoches, Texas; his sons and grandsons fought for Texas independence.

Listed at the bottom of the monument is Ira Hobart Evans, a Congressional Medal of Honor recipient and the youngest Speaker of the Texas House who founded the Texas Society of the Sons of American Revolution.

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Austin, TX

How Texas’ road, bridge conditions compare to other states

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How Texas’ road, bridge conditions compare to other states


AUSTIN (KXAN) — Texas’ highway system dropped two spots since 2025, and now ranks at No. 27 in the country for its cost-effectiveness and overall conditions, according to the Reason Foundation’s 2026 Highway Report.

The report assessed pavement conditions, fatalities, deficient bridges, infrastructure costs and congestion levels across the United States. Texas earned the following rankings:

  • 33rd in urban interstate pavement conditions
  • 21st in rural interstate pavement conditions
  • 39th in urban arterial pavement conditions
  • 12th in rural arterial pavement conditions
  • 3rd in structurally deficient bridges
  • 26th in urban fatality rate
  • 42nd in rural fatality rate
  • 41st in traffic congestion

“More than 42,000 of the nation’s 618,923 highway bridges, nearly 7%, are still structurally deficient. Arizona, Nevada, and Texas reported the lowest percentages of deficient bridges,” the report said.

The full report can be found online.

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Austin, TX

Storms dump small hail throughout Austin area Saturday

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Storms dump small hail throughout Austin area Saturday


AUSTIN (KXAN) — Small hail peppered the Austin area as strong thunderstorms moved through Saturday.

A few of the storms dropped rain and up to pea-sized hail in San Marcos, Dripping Springs and the Austin metro area.

A Severe Thunderstorm Warning was issued for Williamson County around 8:15 p.m., and then canceled shortly after. However, it was enough for the Two Step Inn music festival in Georgetown to cancel shows for the rest of the evening. Event organizers say the festival will run as planned Sunday.

KXAN’s First Warning Weather team is monitoring the storms. We will update this post as the evening continues.

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