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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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The amount of Musk's compensation package is not prohibited, but neither necessary nor appropriate. The personality cult can even harm the company Tesla.
·Zürich, Switzerland
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Tesla CEO Elon Musk is set to receive a record-breaking bonus as the company's shareholders approved a stock bonus plan that could be worth nearly $1 trillion. The deal was approved by 75 percent of shareholders, with Musk dancing on stage in Texas as his name was chanted.
·Ljubljana, Slovenia
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Total News Sources577
Leaning Left104Leaning Right47Center192Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 30%
C 56%
14%
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