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Tesla investors back $56bn Musk pay deal

Tesla is due to make an official announcement on the result of the vote at a meeting on Thursday.

Tesla boss Elon Musk has said shareholder votes on a record-breaking payout to the multi-billionaire and a plan to move the firm's legal headquarters to Texas are "currently passing by wide margins!" The judge ruled the sum was "unfair" and the process for determining the package, by a board dominated by Mr Musk, was "deeply flawed". The board has said Mr Musk deserves the package because Tesla achieved its ambitious targets under his leadership and that it is necessary to ensure he remains dedicated to the company.

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