Key Points

• Elon Musk has confirmed Tesla shareholders' agreement to reinstate his $56 billion compensation pay from 2018.
• Ark Invest has revised their Tesla share price prediction for 2029 to $2,600 per share.

Recent reports cite Tesla's CEO, Elon Musk, indicating substantial support from shareholders for the approval of his compensation package reinstatement and the company's shift to Texas. Musk's update on X highlighted the positive momentum with both shareholder resolutions likely to be endorsed, supported by a graphical representation of the votes.

Forbes documented the journey of Musk's compensation package reinstatement following its legal setback in Delaware. The efforts to relocate Tesla's base to Texas were led by Musk post a public ballot through X, where he expressed gratitude towards the investors.

Texas Governor Greg Abbott commended Musk for his guaranteed compensation and the relocation to Texas, a tax-friendly state.

Ark Invest recently unveiled an enhanced forecast for Tesla's stock price in 2029, targeting $2,600 per share, outlining diverse scenarios predicting $3,100 and $2,000 per share respectively in their detailed analysis.

Ark Invest's research incorporates an advanced model integrating 45 parameters to simulate potential outcomes for Tesla and its equity, forecasting a significant contribution from the robotaxi business for the enterprise value and earnings by 2029.

The electric vehicle sector is anticipated to play a pivotal role in total sales while impacting Tesla's profit potential negatively.