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June 13 (Reuters) - Tesla shareholders look set

to approve a $56 billion pay package for its CEO Elon Musk by

wide margins, the billionaire said on social media on Wednesday.

Shareholder approval of the largest CEO package in U.S.

corporate history could allay investor concerns about Musk's

future at the company and give the electric-car maker ammunition

in its fight to reverse a court decision to void the pay

package.

Here are what some people are saying about it:

GARRETT NELSON, VICE PRESIDENT AND SENIOR EQUITY ANALYST AT

CFRA RESEARCH

"We consider this good news for TSLA investors and attribute

the success of the proposals to the overwhelming support of

TSLA's large retail investor base, who collectively own ~40% of

the shares, combined with a portion of its fragmented

institutional investor base where support was more divided."

"If approved later today, we think it would lift a major

near-term overhang on the stock, as investors send a strong

message of 'staying the course.' In our view, Musk has delivered

for shareholders over the past 5-6 years, meeting the lofty

thresholds of his entirely incentive-based compensation plan and

there's little reason to doubt this won't continue."

CHRISTOPHER TSAI, PRESIDENT AND CHIEF INVESTMENT OFFICER OF

TSAI CAPITAL, A NEW YORK-BASED INVESTMENT MANAGER

"People are invested in Tesla because they believe in Elon

and they believe in the company, and nothing has changed since

the previous vote. Pay the guy and let's move on, that's what

the shareholders have concluded."

DAN COATSWORTH, INVESTMENT ANALYST AT AJ BELL

"The prospect of Tesla investors approving a gargantuan pay

deal for Elon Musk is in itself perplexing given the $56 billion

amount, but for it to drive up the share price might also leave

some people scratching their heads. The logical explanation is

that it means Musk is no longer a flight risk, should the deal

be approved. Pay him well and he'll stay to oversee Tesla's

ongoing efforts to be crowned king of the electric vehicle

sector."

NEW YORK CITY COMPTROLLER BRAD LANDER, WHO OVERSEES CITY

WORKERS' RETIREMENT ASSETS

"Elon's tweet is more evidence of the failure of corporate

governance at Tesla - this is not how or when shareholder votes

are supposed to be made public."

"As long-term investors in Tesla, we expect genuine board

oversight and a CEO who is deeply committed to the company's

growth rather than other business ventures. We would like the

board to ensure that its approval is required for any attempts

to leverage Tesla's intellectual property or resources for his

other ventures so shareholders can trust that their interests

are aligned with the company's goals."

"Additionally, instead of continuing to try to defend it in

court, the board should hire a compensation consultant, and

renegotiate Musk's incentive plan so that it is appropriate and

not dilutive to shareholders."

JASON SCHLOETZER, A BUSINESS PROFESSOR AT GEORGETOWN

UNIVERSITY WITH EXPERTISE IN CORPORATE GOVERNANCE

The approval suggests shareholders "think he's the only

person with the best strategy to implement going forward. They

are brushing aside essentially key man risks, where Tesla has

become even more dependent on Musk going forward."

DAN IVES, ANALYST, WEDBUSH SECURITIES

"Based on all of our discussions over the past month large

shareholders at the end of the day knew that voting no would

risk Musk potentially eventually leaving as CEO and the risk far

overweighed the reward in voting no on this proposal despite

some obvious frustration with Musk."

ALEXANDER POTTER, SENIOR RESEARCH ANALYST, PIPER SANDLER &

CO

"This doesn't fully settle the matter; the compensation

package can still be deemed illegal. But a Delaware judge

previously struck down the package citing limited shareholder

disclosure, and given enhanced disclosures preceding this vote,

it's unclear why anyone would take issue with this

newly-ratified deal. We expect the stock to respond favorably to

this news, though the upside is perhaps unlikely to be as

violent as the downside would have been, had shareholders

rejected the deal."

SANDEEP RAO, SENIOR RESEARCHER AT LEVERAGE SHARES WHICH OWNS

TESLA SHARES

"This vindicates Musk and allays some investor concerns

around his waning interest in Tesla, but major institutional

shareholders who are opposing the pay package might seek value

elsewhere due to their concerns around the size of package,

especially given Tesla's recent disappointing performance and

rising competition."

GREG ABBOTT, TEXAS GOVERNOR

"Congrats Elon on getting the pay you were promised and on

your new incorporation in Texas."

"Welcome to a state that has neither a personal nor a

corporate income tax."

ADAM BADAWI, LAW PROFESSOR AT UC BERKELEY

"Even if the shareholders do approve the old package, it is

not clear that the Delaware court will allow that vote to be

effective."