The group's letter argues that Tesla shareholders likely "did not believe they were voting on an equity plan that would cover compensation to Mr. Musk" all the way back in 2019.

Musk, without commenting further on the report, said in an X post: "Nothing @WSJ says should ever be thought of as true". Musk, the world's richest man, unveiled the 'America Party' in July after a public dispute with President Donald Trump on the tax cut and spending bill.

Tesla Chief Executive Elon Musk said the company’s new six-seat version of its Model Y sport-utility vehicle might never come to the U.S., given the rise of autonomous vehicles.

Vice President JD Vance has criticized former DOGE head Elon Musk amid rumors the Tesla billionaire is abandoning plans of forming a new political party and supporting Vance’s 2028 presidential campaign instead.