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11

Trillion-Dollar Investors Don’t Mind Billion-Dollar CEO Awards

By Tony Seruga

BlackRock, Fidelity funds backed pay at Tesla, Axon Enterprise
More outlier executive stock grants may follow, advisers say

Some of the world’s biggest money managers backed two unprecedented executive awards this year, emboldening other corporate boards to make colossal bets on their CEOs.

Funds run by BlackRock Inc., Fidelity and T. Rowe Price Group Inc. cast votes in favor of special grants for Tesla Inc. Chief Executive Officer Elon Musk and Axon Enterprise Inc.’s Rick Smith, regulatory filings show. Musk and Smith will each reap more than $1 billion from the grants if they meet moonshot financial targets over the next decade…

Trillion-Dollar Investors Don’t Mind Billion-Dollar CEO Awards

Categories : Finance

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