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Tesla shareholders approve Elon Musk’s $1 trillion pay package
Tesla shareholders approved a pay plan with 75% support that could make Musk the first trillionaire if he meets targets including 20 million vehicle deliveries and AI robot rollout.
- 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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For Halloween, Tesla stockholders received a treat. The electric vehicle maker’s stock reached a five-year high of $456.56 a share. Stockholders approved an unprecedented 10-year pay package in November that could be worth $1 trillion for Tesla founder and CEO Elon Musk. Musk was already the world’s richest man with a personal fortune estimated at almost $500 billion. He has a significant stake in Tesla and private ownership stakes in SpaceX, X,…
·Washington, United States
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Total News Sources683
Leaning Left116Leaning Right58Center206Last UpdatedBias Distribution54% Center
Bias Distribution
- 54% of the sources are Center
54% Center
L 31%
C 54%
15%
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