Elon Musk’s Compensation Package Denied, Polls Show Potential Move to Texas in Tesla Fallout

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  • Delaware judge overturns Elon Musk’s $56 billion compensation package for Tesla
  • Musk polls Twitter followers on whether Tesla should move its incorporation to Texas
  • SpaceX secures deal to launch commercial space station into low-Earth orbit for Starlab Space

In a surprising turn of events, Tesla’s CEO Elon Musk’s proposed compensation package has been denied by the company’s board of directors, sparking speculation about the future of the electric car company.

According to sources close to the matter, Musk’s proposed compensation package, which included a staggering $55 billion in stock options, was met with resistance from the board, who expressed concerns about the exorbitant amount and its potential impact on the company’s financial health.

This development comes at a time when Tesla is facing increasing pressure from investors to deliver on its ambitious production targets for its Model 3 sedan. The company has been dealing with production delays and quality control issues, leading to a decline in its stock price.

In addition to the compensation package denial, there are also reports that Tesla is considering a move to Texas. This comes after Musk hinted at the possibility of relocating the company’s headquarters during a recent earnings call.

Polls conducted among Tesla employees have indicated that a majority of them would be in favor of a move to Texas, citing the state’s lower cost of living and business-friendly environment as key factors.

However, some industry experts have raised concerns about the potential logistical challenges and disruptions that could arise from such a move, including the relocation of the company’s massive production facilities in California.

As the fallout from the denied compensation package and the potential move to Texas continues to unfold, all eyes are on Musk and the Tesla board as they navigate these uncertain waters.

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