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Tesla shareholders approve Elon Musk’s $1 trillion pay package
- On Thursday, Tesla shareholders approved a proposed pay package that could be worth up to $1 trillion, with over 75% voting in favor at the Tesla annual meeting, held on Thursday.
- Robyn Denholm, Tesla chairwoman, and the Tesla board argued the package keeps Musk focused and rewards results, while Musk threatened to leave and framed it as control over Tesla, not riches.
- To unlock the award, Tesla must reach $8.5 trillion market capitalization and meet 12 milestones including 20 million vehicle deliveries, 10 million Full Self-Driving subscriptions, and 1 million Optimus robots delivered.
- The outcome dilutes other holders and gives Elon Musk 208 million shares with no strings attached, continuing rules that limit shareholder oversight and locking Tesla into Musk as CEO.
- Critics note Musk could net hundreds of billions with modest progress, Glass Lewis calculated a $942 billion payout, while Musk's robot and robotaxi projects remain unproven commercially.
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75 percent of Tesla shareholders voted for a compensation plan that could make CEO Elon Musk a billionaire.
·Zürich, Switzerland
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Musk receives 878 billion dollars. Tesla shareholders agreed. How absurd that is is shows the look at other managers.
A new compensation plan for Elon Musk has been adopted by a large majority of Tesla's shareholders. The richest man in the world already has an estimated $500 billion in assets.
Coverage Details
Total News Sources452
Leaning Left83Leaning Right35Center165Last UpdatedBias Distribution58% Center
Bias Distribution
- 58% of the sources are Center
58% Center
L 29%
C 58%
13%
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