Elon Musk wins Tesla shareholder approval for $56 billion pay package, touts his ability to 'deliver'

Summary:
1. Approval is a vote of confidence in Musk amid Tesla's challenges

2. Musk's brother, Kimbal, and Rupert Murdoch's son, James, re-elected to board

3. Legal battles loom despite shareholder approval; Delaware judge critical

Tesla shareholders approved CEO Elon Musk's $56 billion pay package, the electric vehicle-maker said on Thursday, a big thumbs-up to his leadership and an incentive to keep his focus on his biggest source of wealth.

The approval underscores the support that Musk enjoys from Tesla's retail investor base, many of whom are vocal fans of the mercurial billionaire. The proposal passed despite opposition from some large institutional investors and proxy firms.

The approval does not, however, resolve a lawsuit on the pay package in a Delaware court, which some legal experts think could stretch out for months. 

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