Tesla (NASDAQ:TSLA) CEO Elon Musk’s salary of $52 billion (based on recent share prices) has upset one of its shareholders. According to The Wall Street Journal’s report, the shareholder has filed a case against Tesla’s board, accusing them of failing to disclose notable information about Musk’s pay package deal that was approved in 2018.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Further, Musk has been accused of controlling the board’s decision on the matter, as he held about 22% stake at Tesla at the time and allegedly had close relations with some of the directors.
The plaintiff has requested that the court revoke Musk’s pay package. Notably, legal representatives of the concerned board members have said that the package was approved in a fair manner. The trial is set to begin today in Wilmington, Delaware.
Meanwhile, Musk recently sold Tesla shares worth nearly $4 billion after closing his acquisition of Twitter.
Is Tesla Stock a Good Buy?
Wall Street is cautiously optimistic about Tesla stock, with a Moderate Buy consensus rating based on 19 Buys, seven Holds, and four Sells. The average price target of TSLA stock is $302.05, which indicates 54.13% upside potential.
