Tesla on Monday defended a proposal to ratify CEO Elon Musk's $56 billion pay package and said a new compensation would be costlier, days after a top proxy advisory firm recommended shareholders to vote against the proposal.

The Tesla chief executive is taking to his social media company to press shareholders to vote for a critical pay package on June 13.

Tesla investor Michael Perry alleged that Elon Musk knew the company would miss fourth-quarter projections when he sold $7.5B in Tesla stock.

Two influential advisory firms have urged shareholders to vote against Elon Musk’s contentious $51 billion pay package and raised concerns about the CEO’s numerous side projects.

As proxy investor advisory firms and major shareholders voice hostility to signing off on his record-setting 2018 payout, Elon Musk lashes out using X, another company he owns.

ISS is the latest to advise shareholders to vote against the compensation.

Musk has previously hit out at the amount of influence proxy advisory firms have: "ISS and Glass Lewis effectively control the stock market."

Tesla shareholders overseas face technical hurdles in voting on the Elon Musk pay deal and other measures for the annual meeting, the Financial Times report.

In the corporate world where business manoeuvres are often reserved for boardrooms, Elon Musk has taken a distinctly public approach. Leveraging his social media platform, X, formerly known as Twitter,

Tesla’s shareholders will be offered a free tour of a Tesla factory, perhaps a blue tick on X, the site formerly known as Twitter, or even a trip in one of his space rockets. Elon Musk is doing everything he can to win shareholders’ backing for his bumper $56bn (£44bn) pay package for running the electric car manufacturer ahead of a crucial vote