In what could almost cover the average grocery bill for a few Tesla engineers, shareholders of the electric vehicle juggernaut approved Elon Musk’s re-ratified pay package worth around $45-46 billion. This comes after the previous $56 billion compensation deal was voided by a Delaware judge for being a little too generous for the shareholders' liking, prompting the company to seek a more "shareholder-friendly" package.

The revised and freshly re-approved package is not just about handing over stacks of cash. The plan includes performance awards consisting of stock options, which are tied to Tesla achieving specific milestones. Simply put, Musk needs to ensure that Tesla hits certain targets to justify the monstrous pay package (New York Post).

For context, Musk already owns around 13% of Tesla shares, which are worth approximately $73 billion. His total net worth stands at an eye-watering $203 billion, meaning that this pay package fortifies his status as one of the world's wealthiest individuals (USA Today). Given such wealth, one might assume his refrigerator is stocked with snacks moonlighting as art installations.

However, not every shareholder was popping champagne about this. The California State Teachers' Retirement System, for example, opposed the deal due to its size and the dilution it could cause for other shareholders (CBS News). Let’s face it, not everyone finds comfort in dipping their retirement funds into Elon’s piggy bank.

Despite the size of Musk’s compensation package, institutional investors like Vanguard, BlackRock, and State Street, which wield significant voting power, chose not to disclose their positions publicly (CBS News). One could interpret this as a classic, "I'll hold my breath and see how this turns out" scenario.

Retail investors and Musk loyalists played a crucial role in this approval (NBC News). Musk's charisma and knack for maintaining a fanatical following ensured that the compensation package soared to new heights without much turbulence.

In other strategic moves, Tesla shareholders also greenlit the company's change of incorporation from Delaware to Texas (NBC News). Perhaps they were mesmerized by the idea of mesquite BBQ being more readily available, or maybe it was the tax benefits. Either way, the Lone Star State just gained another tech giant.

Additionally, regulatory conditions require Musk to hold onto the shares for five years after exercising the options; so, unlike Willy Wonka’s golden tickets, these shares aren’t a get-rich-quick scheme (CBS News).

In summary, as Tesla roars down the electric highway with Elon Musk firmly gripping the steering wheel, the re-approval of his $45-46 billion pay package suggests that staying the course with its enigmatic leader remains part of Tesla’s blueprint. Anyone interested in contributing to Tesla’s next snack fund may want to inquire about investing in buttered popcorn futures.

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