At a pivotal annual shareholder meeting, Tesla shareholders accepted CEO Elon Musk's $56 billion Renumeration Package for a second time. Earlier in the year, a Delaware court had invalidated the package. This staggering amount is greater than Tata Motors' whole FY24 revenue, which stands at $52.44 billion (Rs 4.38 lakh crore).
Not only does Musk's remuneration package exceed Tata Motor, but it also exceeds the combined sales of other notable Indian companies, such as HPCL ($52.09 billion), SBI ($93.84 billion), Rajesh Exports ($37.48 billion), and TCS ($29.04 billion).
Nonetheless, it is not as profitable as companies such as Reliance Industries (RIL) at $108.62 billion, Life Insurance Corporation of India (LIC) at $96.10 billion, Indian Oil (IOCL) at $93.84 billion, and Oil and Natural Gas Corporation (ONGC) at $77.54 billion.
With the highest revenue objective of $175 billion cumulative over the course of four straight fiscal quarters, Tesla's revenue and adjusted core profit were also milestones in Musk's $56 billion stock option package.
The company still faces difficulties, though, as sales have decreased over the last quarter, even with the board of Tesla's support. Comparing the most recent quarter of the previous year to 23,329 million, the total revenue decreased by 8.7° to $21, 301 million.
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