US EditionElon Musk's $1 trillion pay plan faces pushback from investors, state officials
A coalition including state treasurers and institutional investors cites declining Tesla performance and board oversight failures in urging investors to reject Musk’s $1 trillion pay plan.
- On Oct 2, a coalition including SOC Investment Group and state treasurers urged investors to vote against Elon Musk's $1 trillion pay package at Tesla's November meeting.
- Shareholders say the board's actions prompted delays on key goals from the last annual meeting, faulting the Tesla board's "relentless pursuit" to retain Elon Musk, CEO, and noting last month's $1 trillion pay deal proposal.
- The plan ties payouts to targets including building a million Optimus robots and delivering around 12 million EVs by 2035, with Tesla's recent record deliveries supporting these goals.
- The coalition also urged investors to oppose re-electing Ira Ehrenpreis, Joe Gebbia and Kathleen Wilson-Thompson, while Tesla defended the plan on X, saying `If Elon Musk doesn't deliver results, he receives nothing`.
- Shareholders will decide the measure in November at Tesla's general meeting amid concerns demand may fall soon as a key US EV tax credit is expiring.
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35 Articles
Tesla shareholders write urgent letter to reject Elon Musk's staggering $1 trillion payout: 'If [he] doesn't deliver results, he receives nothing'
A collection of government officials and an influential investment group have penned a letter to Tesla shareholders urging them to reject a proposed $1 trillion pay package for Elon Musk, the company's CEO. The group also urged shareholders to vote against the reelection of three Tesla board members. "Since the last annual meeting, we have unfortunately witnessed both the erratic performance of Tesla, Inc. … and the Board's failure to provide m…
kreiszeitung.de
Tesla CEO Elon Musk could earn up to a trillion dollars through a planned stock package. Shareholders are probably protesting and calling for a no at the Annual General Meeting.
Investor Group Urges Tesla Shareholders To Reject Elon Musk's 'Unprecedented' $1 Trillion Pay Package
The dissident shareholders, including several states with investments in the car company, also want to dump three board members up for re-election next month.
Tesla CEO Elon Musk is expected to receive a $1 trillion salary package – which would make him the first dollar billionaire in history. However, he also has a corporate value to create for this, Tesla said. "If Elon Musk does not deliver results, he will not receive anything." Some shareholders have also already announced that they will vote against the package. They accuse their boss of lack of supervision over management and falling performanc…
Elon Musk's $1 trillion pay plan faces pushback from investors, state officials
A group of Tesla shareholders including SOC Investment Group and several state officials urged investors to vote against Elon Musk's $1 trillion pay package at the company's November meeting, a regulatory filing showed on Thursday.
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