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Tesla wants shareholders to vote again on Musk’s $56 billion payout
Tesla is asking shareholders to vote another time on Elon Musk’s $56 billion pay package after a Delaware judge nullified the biggest compensation plan in corporate America.
In a proxy filing published Wednesday, the electric-car manufacturer also stated it would hold a vote on moving its state of incorporation to Texas from Delaware. Tesla is set to hold its annual shareholders meeting on June 13.
The request comes days after news that Tesla would reduce its headcount by 10% globally, or about 14,000 people. In a letter to stockholders, Tesla cited the need to carefully manage its resources for its decision.
In looking to re-ratify Musk’s 2018 pay package, Tesla argued that “corporate democracy and stockholder rights” are at stake, telling shareholders the court had “rescinded the pay package that an overwhelming majority of you voted to grant.”
A Delaware judge in late January threw out the share-based payout, calling it an “unfathomable sum” and unfair to shareholders. In her ruling, the judge accepted the shareholder lawyers’ argument that Musk personally dictated the landmark pay package in sham negotiations with directors who were not independent.
The ruling had some investors anticipating that Tesla might revamp its governance, as the board had long faced criticism for not reining in its controversial CEO as Musk battled with advertisers and regulators.
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One year after Oct. 7 attack, the toll on civilians remains high
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Open: This is “Face the Nation with Margaret Brennan,” Oct. 6, 2024
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Kamala Harris will speak with “60 Minutes” tomorrow. Here’s what to know for the interview.
Voters will get the chance to hear from Vice President Kamala Harris on Monday as she presents her case for why she should be president in a “60 Minutes” election special.
For decades, “60 Minutes” has featured both Republican and Democratic nominees for presidents, but this year, former President Donald Trump backed out after previously indicating he would be on the show. Correspondent Scott Pelley, who’d been set to interview Trump, will instead travel to Arizona’s Maricopa County, home to more than 60% of Arizona’s voters and a critical battleground in a key swing state.
One thing is certain about the election; with the U.S. deeply involved in both the wars in Ukraine and the Middle East, whoever wins on Nov. 5 will become a wartime president.
What Harris will discuss
Israel’s war started one year ago after Hamas launched a surprise terror attack and correspondent Bill Whitaker will discuss the ongoing war with Harris.
Harris will also discuss the economy, immigration, her record as vice president and the differences between herself and Trump.
Democratic vice presidential candidate Gov. Tim Walz will also appear.
Whitaker joined the Democratic ticket on the campaign trail this week to gain insight into their platform’s priorities and values, and what the candidates believe voters should know.
Why Trump pulled out of the “60 Minutes” interview
Leading up to the candidate hour, Trump, through campaign spokespeople, was the first candidate to accept the “60 Minutes” request to be interviewed for the special, according to CBS News. It had been agreed that both candidates would receive equal time during the broadcast.
Trump last sat down with 60 Minutes in 2020. He walked out during the interview with Lesley Stahl. Trump referenced the incident on Tuesday night at a Milwaukee press conference when asked about his decision not to participate in the Oct. 7 “60 Minutes” election special.
“Well, right now, I went to – they came to me and would like me to do an interview, but first I want to get an apology, because the last time I did an interview with them, if you remember, they challenged me on the computer,” Trump said. “They said the ‘laptop from hell’ was from Russia, and I said it wasn’t from Russia. It was from Hunter, and I never got an apology, so I’m sort of waiting. I’d love to do ’60 Minutes.’ I do everything.”
The Republican nominee for president emphasized that he felt he was owed an apology from “60 Minutes.”
“Let’s see if they do it. I wouldn’t mind doing 60,” Trump continued. “I’ve done ’60 Minutes’ a lot.”
In a statement on Tuesday, Trump campaign communications director Steven Cheung said that Trump’s team had not agreed to an interview.
“Fake News,” Cheung said in a post on X. “60 Minutes begged for an interview, even after they were caught lying about Hunter Biden’s laptop back in 2020. There were initial discussions, but nothing was ever scheduled or locked in. They also insisted on doing live fact checking, which is unprecedented.”
Previous Trump, Harris appearances on 60 Minutes
Trump previously sat down with “60 Minutes'” Mike Wallace in 1985, Pelley in 2015 and Lesley Stahl twice in 2016, first in July of that year and then again in November of 2016. He also spoke with Stahl again in 2018 and 2020.
Harris previously sat down with Whitaker last year. She also was interviewed by Norah O’Donnell, “CBS Evening News” anchor and “60 Minutes” contributing correspondent, in 2020.