The 2024 re-ratification vote
The 2018 award, then valued at roughly $45 billion · re-ratified June 13, 2024
Before the vote
Aug 8
the robotaxi unveiling date, announced during the re-ratification campaign
After the vote
Oct 10
the actual date, pushed back within weeks of the vote passing
Tesla shares closed down 8.4% on the delay.
- Jan 30, 2024
Delaware’s Chancery Court voided Musk’s original 2018 pay package, finding shareholders had not been fully informed when they approved it. Tesla began seeking a re-vote to ratify the same award.
- Apr 5, 2024
On the same day Reuters reported Tesla had internally scrapped its ~$25,000 “Model 2” (and Musk called the report a lie), Musk announced Tesla would unveil its robotaxi on August 8. Shares rose more than 3% after hours.
- Apr–Jun 2024
Anticipation of the robotaxi reveal helped drive an extended run-up in the stock heading into the vote.
- Jun 13, 2024Vote passed
Shareholders re-ratified the package by a wide margin. On the same call, Musk pivoted to autonomy: “This is actually going to work. This is going to happen. Mark my words, this is just a matter of time.”
- Jul 11, 2024
The August 8 robotaxi unveiling, announced during the pay-vote campaign, was pushed back about two months to October. Tesla shares closed down 8.4% that day, ending an eleven-day rally.
- Oct 10, 2024
The rescheduled “We, Robot” event was finally held.