John Bogle, the late founder of Vanguard. It is highly unlikely that he would have approved of Elon Musk's massive pay package at Tesla . Photograph: Ryan Collerd/New York Timesmultibillion pay package. More surprising is that index fund giant Vanguard, Tesla ’s largest shareholder apart from Musk himself, approved the $56 billion deal.also in favour. Vanguard might add that the fact it voted against Musk’s proposed pay deal in 2018 should not preclude it from doing an about-turn.
Would Bogle, the champion of low-cost investing for ordinary investors, have approved of Musk’s huge pay deal? Unlikely – very unlikely.
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