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Tesla shareholders have again approved Elon Musk\u2019s multi-billion dollar pay package several months after a Delaware court <\/a> it. During the electric car maker\u2019s annual shareholder meeting, the company’s stockholders signed off on a proposal to reinstate Musk\u2019s pay package, currently worth about $48 billion, according to <\/em><\/a>.<\/em><\/p>\n Judge Kathaleen McCormick of Delaware\u2019s Chancery Court previously called the Tesla CEO\u2019s pay, worth $56 billion when it was first approved in 2018, an “unfathomable sum.\u201d Musk responded by threatening to move the company\u2019s state of incorporation to Texas. During Tesla\u2019s meeting, shareholders officially signed off on the move.<\/p>\n The approval of Musk\u2019s compensation doesn\u2019t guarantee that his eye-popping pay will be reinstated. As Bloomberg points out, the vote doesn’t invalidate the judge’s initial ruling, but Tesla will almost certainly appeal and point to the latest shareholder vote as evidence that the company\u2019s stockholders have approved it.<\/p>\n Unsurprisingly, Musk seemed pleased with the vote. \u201cI just want to start off by saying, hot damn. I love you guys,\u201d he said after taking the stage at the shareholder meeting. He later said that the reinstatement of his pay wouldn\u2019t affect his short-term commitment to Tesla. \u201cIt is worth emphasizing that it\u2019s Tesla stock that I have to own for five years. It’s not actually cash, and I can’t cut and run, nor would I want to.\u201d<\/p>\n<\/div>\n