The pay package is likely to remain tied up in the Delaware Chancery Court and Supreme Court for months as Tesla tries to overturn the Delaware judge's rejection. Photo via Getty Images

Tesla shareholders voted Thursday to restore CEO Elon Musk's record $44.9 billion pay package that was thrown out by a Delaware judge earlier this year, sending a strong vote of confidence in his leadership of the world's largest electric vehicle maker.

The favorable vote doesn’t necessarily mean that Musk will get the all-stock compensation anytime soon. The package is likely to remain tied up in the Delaware Chancery Court and Supreme Court for months as Tesla tries to overturn the Delaware judge's rejection.

Musk has raised doubts about his future with Tesla this year, writing on X, the social media platform he owns, that he wanted a 25% stake in the company in order to stop him from taking artificial intelligence development elsewhere. The higher stake is needed to control the use of AI, he has said.

Tesla also has struggled with falling sales and profit margins as demand for electric vehicles slows worldwide.

But at the company's annual meeting Thursday in Austin, Texas, Musk reassured shareholders that he will stick around, telling them he can't sell any stock in the compensation package for five years.

“It's not actually cash, and I can't cut and run, nor would I want to,” he said.

The company said late Thursday that shareholders had voted for Musk's compensation plan, which initially was approved by the board and stockholders six years ago.

Tesla last valued the package at $44.9 billion in an April regulatory filing. It was once as much as $56 billion but has declined in value in tandem with Tesla's stock, which has dropped about 25% so far this year.

Chancellor Kathaleen St. Jude McCormick ruled in January in a shareholder’s lawsuit that Musk essentially controlled the Tesla board when it ratified the package in 2018, and that it failed to fully inform shareholders who approved it the same year.

Tesla has said it would appeal, but asked shareholders to reapprove the package at Thursday’s annual meeting.

A separate vote approved moving the company’s legal home to Texas to avoid the courts in Delaware, where Tesla is registered as a corporation.

“Its incredible," a jubilant Musk told the crowd gathered at Tesla's headquarters and large factory in Austin, Texas. “I think we’re not just opening a new chapter for Tesla, we’re starting a new book.”

Musk and Tesla didn’t win everything. Shareholders approved measures that trimmed board member terms from three years to one and cut the required vote on shareholder proposals to a simple majority.

Legal experts say the issue of Musk’s pay will still be decided in Delaware, largely because Musk’s lawyers have assured McCormick they won’t try to move the case to Texas.

But they differ on whether the new ratification of the pay package will make it easier for Tesla to get it approved.

Charles Elson, a retired professor and founder of the corporate governance center at the University of Delaware, said he doesn’t think the vote will influence McCormick, who issued a decision based on the law.

McCormick’s ruling essentially made the 2018 compensation package a gift to Musk, Elson said, and that would need unanimous shareholder approval, an impossible threshold. The vote, he said, is interesting from a public perception standpoint, but “in my view it does not affect the ruling.”

John Lawrence, a Dallas-based lawyer with Baker Botts who defends corporations against shareholder lawsuits, agreed the vote doesn’t end the legal dispute and automatically give Musk the stock options. But he says it gives Tesla a strong argument to get the ruling overturned.

He expects Musk and Tesla to argue that shareholders were fully informed before the latest votes, so McCormick should reverse her decision. But the plaintiff in the lawsuit will argue that the vote has no impact and isn’t legally binding, Lawrence said.

The vote, he said, was done under Delaware law and should be considered by the judge.

“This shareholder vote is a strong signal that you now have an absolutely well-informed body of shareholders,” he said. “The judge in Delaware still could decide that this doesn’t change a thing about her prior ruling and doesn’t require her to make any different ruling going forward. But I think it definitely gives Tesla and Musk strong ammunition to try to get her to revisit this.”

If the ruling stands, then Musk likely will appeal to the Delaware Supreme Court, Lawrence said.

Multiple institutional investors have come out against Musk’s sizeable payout, some citing the company’s recent struggles. But analysts said votes by individual shareholders likely put Musk’s pay over the top.

Early Friday, Tesla disclosed that shareholders voted for Musk's pay package by 1,760,780,650 to 528,908,419, with about 77% of all votes in favor. The company's shares jumped 3% by the time the markets closed Thursday and were up 1.2% in premarket trading early Friday.

After the votes were announced, Musk began telling shareholders about new developments in the company's “Full Self-Driving” system. He has staked the company's future on development of autonomous vehicles, robots and artificial intelligence.

“Full Self-Driving” keeps improving with new versions, and its safety per mile is better than human drivers, Musk said.

"This is actually going to work. This is going to happen. Mark my words, this is just a matter of time,” he said.

Despite its name, “Full Self-Driving” can’t drive itself, and the company says human drivers must be ready to intervene at all times. Tesla’s “Full Self-Driving” hardware went on sale late in 2015, and Musk has used the name ever since as the company gathered data to teach its computers how to drive.

In 2019, Musk promised a fleet of autonomous robotaxis by 2020, and he said in early 2022 that the cars would be autonomous that year. In April of last year, Musk said the system should be ready in 2023.

Since 2021, Tesla has been beta-testing “Full Self-Driving” using volunteer owners. U.S. safety regulators last year made Tesla recall the software after finding that the system misbehaved around intersections and could violate traffic laws.

Musk also said the company is making huge progress on its Optimus humanoid robot. Currently it has two working at its factory in Fremont, California, that take battery cells off a production line and put them in shipping containers, he said.

Despite laying off the team working on Tesla’s Supercharger electric vehicle charging network, Musk said he thinks the company will deploy more chargers this year “that are actually working” than the rest of the industry. In the second half of the year, he expects to spend $500 million on Superchargers, Musk said.

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Katy’s TerraFlow acquires Houston battery tech startup FlowCellutions

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Katy-based TerraFlow Energy, an energy storage and infrastructure company, has acquired Houston-based battery technology startup FlowCellutions. Financial terms weren’t disclosed.

FlowCellutions still operates under its established name, but with the tagline “A TerraFlow Energy Company.” Becca Segel, founder and CEO of FlowCellutions, now runs the business as its president.

FlowCellutions specializes in electrochemical sensing, diagnostics, analytics, and testing that offer insights into battery chemistry, charging capabilities, and system performance.

“FlowCellutions has always been focused on developing better ways to understand what is happening inside a flow battery and using that information to improve how these systems perform,” Segal said in a press release. “Joining TerraFlow gives us the opportunity to apply that work at a much larger scale while continuing to build the capabilities and expertise that make FlowCellutions unique.”

The FlowCellutions platform supports data centers and other heavy users of power. It’s designed to help reduce operating costs, prevent failures and costly downtime, and extend battery lifetime from about seven years to more than 30 years.

Segel founded the company in 2022. A member of Greentown Labs, the company raised more than $2 million in non-dilutive funding and received $1.5 million in National Science Foundation funding earlier this year.

FlowCellutions is one of five finalists in the Energy Transition Business category of InnovationMap’s 2026 Houston Innovation Awards.

“FlowCellutions brings a depth of scientific and technical expertise that fits naturally with where TerraFlow is going,” Jon Parrella, CEO of TerraFlow, said in the release.

“As we move from developing these systems to deploying them at commercial scale, understanding performance at a deeper level matters,” he said. “Bringing FlowCellutions into TerraFlow strengthens that capability and gives both teams more opportunity to advance the technology.”

TerraFlow, founded in 2024, develops long-duration energy storage and power infrastructure for data centers, industrial facilities, utilities and other large power consumers.

8 must-attend Houston energy events happening in November 2026

Mark your calendars

Editor's note: The November calendar is front-loaded with events for those in Houston's energy sector. From annual summits to an expo exploring AI and energy, these are the events you'll want to register for this month.

Nov. 2 — Energy Leadership Speaker Series

Join UH Energy for a conversation with Jason Wells, Chair, President, and Chief Executive Officer of CenterPoint Energy. The Energy Leadership Speaker Series is a year-long program featuring 12 expert-led sessions covering topics from energy leadership to AI and data science in energy operations. The November topic is "Grid Modernization & The Electricity Revolution."

This event begins at 4:15 pm on November 2 at the University of Houston. Find details here.

Nov. 3-4 — Next-Gen AI for Energy Summit 2026

The summit brings together over 600 senior executives from energy, technology, policy, and investment communities worldwide to explore six strategic areas: operational optimization, digital infrastructure, finance, digital twins, risk management, cybersecurity, and AI-driven market and regulatory strategies. The summit is co-located with EnergyTech X, an invite-only forum connecting energy innovators, AI founders, startups, and investors to scale next-generation energy technologies.

This event begins Nov. 3 at the Intercontinental Houston. Register here.

Nov. 3-5: 17th Annual Operational Excellence in Oil & Gas Summit

The 17th Annual Operational Excellence in Oil & Gas Summit will focus on aligning technology, process, and workforce to balance reliability, resilience, and operational cost. It will feature case studies on AI adoption, asset management, and workforce modernization.

This event begins Nov. 3 at Norris Conference Center. Register here.

Nov. 4-5 — 2026 OPIS Global LPG Conference: Powering Global Connectivity

This November, industry leaders, traders, producers, and infrastructure stakeholders will once again converge in Houston—the world’s LPG hub—for the 2026 OPIS Global LPG Conference. The conference will cover the global LPG market, which is entering a new phase of structural evolution, and how the industry is moving from managing volume to mastering the connectivity between expanding supply hubs and global energy and petrochemical demand.

This event begins Nov. 4 at the Royal Sonesta Houston Galleria. Register here.

Nov. 4-6: SAF North America Congress 2026

The aviation and energy value chains will gather in Houston once again to help shape the future of Sustainable Aviation Fuel (SAF) in North America. The focus will be on safeguarding progress made to date and ensuring SAF remains central to energy and climate strategies.

This event begins Nov. 4 at Marriott Marquis Houston. Register here.

Nov. 11: BNEF Summit Houston 2026

The BNEF Summit Houston 2026 will explore how AI-driven demand, geopolitical tensions, and electrification are reshaping energy systems at unprecedented speed. Bringing together 600 leaders across energy, tech, digital infrastructure and finance, the summit will address the race to build power, infrastructure, and supply chains — and who will fund, deliver, and benefit from the next phase of growth.

This event takes place Nov. 11 at Post Oak Houston. Register here.

Nov. 11-12: Energy Supply Chain & Procurement Summit

For 12 years, the Energy Supply Chain and Procurement Summit has brought senior procurement, supply chain, and logistics leaders to Houston — from operators, EPCs, utilities, service and equipment providers, and the suppliers they depend on. At the 2026 summit, leaders will discuss what production growth is doing to sourcing, supplier risk, and assurance of supply, and what’s working.

This event begins Nov. 11 at Houston Marriott Uptown. Register here.

Nov. 18-19: American Data Centers & AI Conference and Exhibition 2026

Set to redefine the intersection of energy and digital infrastructure, the American Data Centers & AI Conference and Exhibition convenes in Houston for its second annual event. The event will address the increasing demand for high-performance computing and the sustainable development of AI infrastructure, which requires significant power. Participants can expect to learn about practical solutions in energy integration, modern data center design, and scalable approaches. The agenda includes presentations from leading experts, demonstrations of new technologies for thermal management and grid optimization, and detailed discussions on AI's environmental impact and how to reuse generated heat.

This event begins Nov. 18 at the Double Tree Hotel at Greenway Plaza. Register here.