Elon Musk says Tesla shareholders are backing his $56bn pay

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Federal Reserve holds interest rates at two-decade high as it waits for inflation to coolShould Tesla pay Elon Musk $45bn? The shareholders will decide

Today is a red letter day for Tesla, which is asking its shareholders to approve a $56bn (£44bn) compensation package for CEO Elon Musk.

The package is up for approval, again, after being thrown out by a Delaware judge earlier this year – which has prompted the electric car manufacturer to also seek investor approval to shift its legal base to Texas.

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