Elon Musk's $1T pay deal approved by Tesla shareholders
16 days ago
- #Tesla
- #Corporate Governance
- #Elon Musk
- Elon Musk's $1tn pay package approved by Tesla shareholders with 75% votes.
- Musk must increase Tesla's market value to $8.5tn over 10 years to receive 400M shares.
- Milestones include delivering 20M Tesla vehicles, 1M robots, and $400B in core profit.
- Musk emphasized Optimus robot's role in Tesla's future, sidelining focus on EVs.
- Tesla faces challenges: declining sales, regulatory scrutiny of FSD, and competition in robotaxis.
- Major investors like Norway's sovereign wealth fund opposed the pay deal.
- Musk's political views and persona have polarized public opinion, affecting Tesla's brand.
- Tesla board lobbied heavily for the pay package, raising governance concerns.
- Musk's pay deal grants him more voting power, aligning incentives with shareholders.