Tesla Shareholders Urged to Reject Musk's $56 Billion Pay Package

Proxy advisory firm Glass Lewis has recommended that Tesla shareholders reject CEO Elon Musk's $56 billion pay package, citing its excessive size and potential negative impact on smaller shareholders. The recommendation comes ahead of a June 13 vote on the 2018 pay package, which was nullified by a Delaware judge earlier this year. Glass Lewis argues that the massive stock grant could dilute existing shares and that Musk's current 12.9% ownership stake, valued at about $74 billion, already aligns his interests with the company.