Elon Musks $56B pay package is not a done deal: Kenny Polcari
SlateStone Wealth chief market strategist Kenny Polcari reacts to Tesla shareholders voting to reinstate Elon Musk's pay package, on "Varney & Co.
Tesla CEO Elon Musk discussed his relationship with former President Trump during the electric vehicle giant's shareholder meeting on Thursday, confirming that the pair have had conversations and revealing some of what they have discussed.
"He does call me out of the blue for no reason," Musk said of Trump. "I don't know why, but he does."
Tesla CEO Elon Musk attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center on June 16, 2023, in Paris, France. (Photo by Chesnot/Getty Images / Getty Images)
Musk said that Trump is "very nice when he calls," and he recalled telling the former president that EVs are "pretty good for the future" and that "America's the leader in electric cars."
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Musk went on to say that a lot of Trump's friends now own Teslas and love them. He added that Trump is "a huge fan of the Cybertruck."
Then-President Trump gives a thumbs up during a "Keep America Great" campaign rally at Wildwoods Convention Center in Wildwood, New Jersey, January 28, 2020. (SAUL LOEB/AFP via Getty Images / Getty Images)
The tech billionaire's confirmation that he and Trump have had talks comes after The Wall Street Journal reported last month on what it called the pair's "growing alliance."
Citing people familiar, the Journal said Trump is considering offering Musk an advisory role in the White House if Trump reclaims the presidency in this fall's election. Musk did not address that claim.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 178.01 | -4.46 | -2.44% |
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Tesla, Inc.
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Also on Thursday, Tesla shareholders voted to reinstate Musk's $56 billion pay package that had been voided by a Delaware judge, and to change the company's state of incorporation from Delaware to Texas.
Gxstocks' Kelly O'Grady and Eric Revell contributed to this report.
