Tesla

Shareholders also voted to approve the electric vehicle maker’s redomestication from Delaware to Texas.

Ahead of a vote on his $50 billion stock award, Musk faces strident resistance from previously reliable sources who now question his commitment to the company.

Tesla shareholders will decide next week whether to reinstate CEO Elon Musk’s unprecedented 11-figure bonus, a decision Wall Street classifies as a pivotal moment for the carmaker as the centibillionaire’s head turns to his various other endeavors.

Musk sold more than $20 billion in Tesla stock around the same time he purchased Twitter for $44 billion in late 2022.

Move over Bernard Arnault. There’s a new wealthiest person on the planet.

The electric vehicle maker said earlier this year it would cut 10% of its workforce.

Billionaire Leo Koguan, who claims to hold more than 27 million Tesla shares, said Musk is a “tyrant CEO” who has abandoned the carmaker for his other companies.

The funding would provide Musk’s venture, which is behind the Grok AI chatbot, a welcome boost in its efforts to catch up to AI rivals like OpenAI, Google and Anthropic.

After jostling for the position of second-wealthiest person in the world more than a dozen times in March, Musk and Bezos are competing closely once again.

Elon Musk internally announced that about 500 people, or the entire team that works on superchargers for Tesla, were being let go this week, according to The Financial Times.