Tesla Shares Soar 6.85% in Premarket Trading Following Musk's Comments That Controversial Pay Package is Set to Pass by 'Wide Margins.'

Elon Musk said late on Wednesday that Tesla shareholders are set to approve his controversial $56 billion pay package and a resolution to move the electric carmaker's incorporation to Texas. Tesla shares were up 6.85% in premarket trading on Thursday after Musk's comments about the resolutions passing by "wide margins." The pay package, initially approved in 2018, had aggressive targets for Tesla's financial performance and market value. However, a Delaware judge voided it in January. Shareholders will vote on the resolutions at Tesla's annual meeting on Thursday. The outcome could have significant ramifications for Tesla's leadership and governance under Musk going forward.