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Tesla shareholders approve Elon Musk’s $1 trillion pay package
Tesla shareholders approved a compensation plan giving Elon Musk up to $1 trillion over 10 years if the company meets ambitious growth and valuation targets.
- 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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143 Articles
143 Articles
As Americans Live Paycheck to Paycheck, Tesla Shareholders Approve Musk's $1 Trillion Package
Elon Musk, already the world's richest person, could soon become the first trillionaire thanks to a controversial pay package approved by shareholders at the company's annual meeting.
·United States
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Tesla’s shareholders approved on Thursday a compensation package that could turn CEO Elon Musk, already the richest man in the world, into the world’s first billionaire. Tesla announced that more than 75% of the stockholders voted in favour of the wage package during the company’s annual shareholder meeting. The vote did not include 15% of the company Musk already owns. Musk thanked the shareholders and the Tesla board of directors shortly after…
Wall Street Journal+2 Reposted by 2 other sources
Tesla Shareholders Approve Elon Musk’s $1 Trillion Pay Package
·New York, United States
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Total News Sources143
Leaning Left37Leaning Right10Center67Last UpdatedBias Distribution59% Center
Bias Distribution
- 59% of the sources are Center
59% Center
L 32%
C 59%
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