Inside Tesla’s Wild Shareholder Vote: Musk’s Paycheck Drama Ends

Elon Musk is no stranger to bold moves and big numbers, but even he seemed overwhelmed by the latest show of support from Tesla’s investors. After shareholders voted to reinstate his massive $56 billion pay package, Musk took to social media with an uncharacteristically heartfelt response:

“Hot damn, I love you guys.”

It was a rare moment of raw emotion from the Tesla CEO, who’s usually busy talking about AI, rockets, and electric cars. But this time, it was personal. The message was clear—he knows his success depends on the people who believe in him and Tesla’s vision.

Tesla Shareholders Give Musk the Green Light on $56 Billion Deal

The shareholder vote was a huge moment, not just for Musk but for Tesla’s future. Back in January, a Delaware court voided Musk’s record-breaking pay package, arguing that Tesla’s board didn’t do enough to ensure it was a fair deal.

Musk didn’t take that ruling lightly. He made it clear that he expected Tesla’s investors to have his back, and they delivered. In a landslide vote at Tesla’s annual meeting in Austin, Texas, shareholders approved the compensation package once again.

For Musk, it wasn’t just about the money—it was a sign that Tesla’s investors trust him to keep leading the company toward bigger and better things.

Musk’s Response: A Rare Glimpse of Gratitude

Shortly after the vote, Musk turned to X (formerly Twitter) and let his feelings show.

“We have the most awesome shareholder base. Hot damn, I love you guys.”

It was short, sweet, and very Musk. While he’s known for being direct (sometimes to a fault), this response struck a different tone. It was appreciation, plain and simple.

And for the millions of Tesla fans and retail investors who have backed him for years, it was a moment of connection—proof that their support matters.

Who Really Owns Tesla? A Breakdown of Its Biggest Shareholders

Tesla isn’t just a Musk empire. The company is owned by a mix of individual investors, Wall Street giants, and everyday fans who believe in its future. Here’s a look at some of the key players:

Biggest Individual Shareholders

• Elon Musk – No surprise here. Musk owns about 23% of Tesla, which translates to around 715 million shares.
• Kimbal Musk – Elon’s brother and a longtime Tesla board member, Kimbal holds around 1.6 million shares.
• Jeffrey Straubel – Tesla’s former Chief Technology Officer, who still owns about 276,000 shares.

Biggest Institutional Shareholders

• Vanguard Group – One of the biggest financial firms in the world, holding 230 million Tesla shares (about 7.2%).
• BlackRock – A powerhouse in the investing world, with 188 million shares (5.9%).
• State Street Corporation – Another major player, controlling 108 million shares (3.4%).

Tesla’s Secret Weapon? Its Loyal Retail Investors

While big investment firms hold a lot of Tesla stock, the real heartbeat of the company is its everyday investors.

Tesla has a huge base of retail investors—people who don’t just buy the stock, but actually believe in Musk’s vision. They’re active on social media, they defend Tesla during rough patches, and instead of panicking when the stock drops, many buy even more shares.

Leading up to the shareholder vote, Tesla’s retail investors rallied on platforms like X, urging others to back Musk. Their passion and loyalty helped push the vote through—and Musk clearly took notice.

Musk’s Political Side: A Potential Concern for Some Investors

Not all investors are 100% thrilled with Musk’s increasing involvement in politics and social issues.

Some, like investor Christopher Tsai, have expressed concerns that Musk’s outspoken nature could become a distraction. While he still believes in Tesla’s long-term success, he (and others) hope Musk keeps his focus on the company’s mission rather than getting too deep into political debates.

But if the shareholder vote proved anything, it’s that the majority of Tesla investors still have Musk’s back—at least for now.

What’s Next for Tesla?

Now that Musk has secured his massive pay package, what comes next?

Tesla is doubling down on AI, self-driving technology, and sustainable energy. The company is pushing forward with its next-generation vehicles, while also exploring new frontiers in robotics and artificial intelligence.

One thing is certain: with the unwavering support of his investors, Musk isn’t slowing down anytime soon.

And judging by his reaction to the vote, he knows he couldn’t do it without them.