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Tesla Inc TSLA CEO Elon Musk said on Friday that he would send a cake to Delaware with the popular Latin phrase ‘Vox Populi, Vox Dei’ in icing as a farewell gift. Musk’s joke comes on the heels of Tesla shareholders approving the movement of Tesla’s legal headquarters to Texas from Delaware.
What Happened: Musk soured on Delaware earlier this year after the Delaware Court of Chancery rescinded his $56 billion pay package terming it “an unfathomable sum” despite shareholders approving it in 2018. The CEO then announced that he would consider shifting Tesla’s legal headquarters to Texas where it is physically headquartered. The proposal was subsequently put for a shareholder vote and shareholders approved it.
The result of the vote was announced at Tesla’s annual shareholders’ meeting on Thursday. The shareholders also reapproved Musk’s rescinded pay package, marking a major win for Tesla’s board and Musk. While the vote in itself might not help reinstate the package, it gives Musk significant legal leverage.
Musk on Friday posted a picture of a cake on X, with the popular Latin phrase “Vox Populi, Vox Dei” which means “the voice of the people is the voice of God.” “Sending this cake to Delaware as a parting gift,” Musk wrote, reasserting the will of Tesla shareholders over Delaware courts to determine the future of the EV company.
Other Reactions: Tesla Director Kimbal Musk, too, took to X to announce his glee at the results of the shareholder vote.
“The distractions from Delaware, violating shareholder rights & canceling arms length contracts, is over. Goodbye Delaware. You will not be missed,” he wrote while adding that the EV company can now focus on building a great business.
Thank you Tesla Shareholders!
We can now focus on building a great business & accelerating the world towards alternative energy.
The distractions from Delaware, violating shareholder rights & canceling arms length contracts, is over. Goodbye Delaware. You will not be missed. https://t.co/hxpnhx7UiF
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