"The CEO said he doesn't even want to call it "compensation," insisting the real issue is whether he'll have enough voting power to control Tesla's next chapter in AI, robotaxis, and humanoid robots. "I just don't feel comfortable building a robot army here and then being ousted because of some asinine recommendations from ISS and Glass Lewis," Musk said, calling the proxy advisory firms "corporate terrorists.""
"Tesla executives urged shareholders to support the November 6 vote on his compensation proposal, a package that would be the largest in corporate history. The deal would award Musk up to $1 trillion in stock if he meets performance targets, including pushing Tesla's market value to $8.5 trillion and meeting 12 "operational milestones." Those range from selling 12 million cars and one million humanoid robots to launching a million robotaxis and boosting adjusted earnings from $16.6 billion in 2024 to $400 billion."
Elon Musk defended a proposed $1 trillion compensation package and criticized proxy advisory firms as "corporate terrorists" for opposing it. He framed the package as necessary to secure sufficient voting power to guide Tesla's future in AI, robotaxis, and humanoid robots. Musk said he needs roughly mid-20s percent voting power to maintain a strong influence while still being removable if he becomes "insane." The proposal would award up to $1 trillion in stock if Tesla meets ambitious performance targets, including an $8.5 trillion market valuation and extensive operational milestones. The package could raise Musk's stake from about 13% to nearly 29%, and the board warned that rejection could reduce his involvement or prompt departure.
Read at Business Insider
Unable to calculate read time
Collection
[
|
...
]