Tesla shareholders have approved the compensation package for Elon Musk, the group's Chief Executive Officer, with 77% of the votes cast, according to a regulatory notice issued on Friday.

This result comes as no surprise, given that Elon Musk himself had announced yesterday in a post on X that the package had been validated 'by a wide margin'.

Under this incentive scheme, which dates back to fiscal 2018, the billionaire will therefore be able to obtain up to $56 billion through the granting of 'stock options'.

At yesterday's annual general meeting, the electric vehicle manufacturer's shareholders also voted 63% in favor of the plan to redomicile the headquarters to Texas, shows the document published on the SEC website.

Shareholders also approved the co-optations to the board of directors of James Murdoch, son of Rupert Murdoch and former CEO of Twenty-First Century Fox, and Kimbal Musk, Elon Musk's brother.

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