Elon Musk: Tesla shareholders urged to stop chief executive’s ‘excessive’ £56bn payday

Tesla shareholders have been urged to vote against plans to pay its chief executive Elon Musk up to $56bn (£44bn). The compensation package, if approved, would be the biggest ever for a chief executive in the US. However, proxy advisory firm Institutional Shareholder Services (ISS) has warned the amount is “excessive” and said it would not help Musk to “focus” more on the company. It comes following concerns that the controversial billionaire has become distracted from running Tesla by his other business interests, including SpaceX and X, formerly Twitter. The electric carmaker has also been hit recently by falling revenue,…