Tesla Shareholders Approve Elon Musk's $1T Pay Package
16 days ago
- #Tesla
- #Corporate Governance
- #Elon Musk
- Tesla shareholders approved a $1 trillion pay package for CEO Elon Musk, contingent on meeting ambitious financial and production targets by 2035.
- Musk could gain control of 25% of Tesla (up from 12%) if targets are met, with over 75% shareholder approval in a preliminary vote.
- Tesla must achieve an $8.5 trillion valuation, deliver 20 million vehicles, deploy 1 million robots and robotaxis, and sell 10 million Full Self-Driving subscriptions in three months.
- Musk emphasized the need for strong influence over Tesla's future robotics and autonomy projects to ensure their success.
- Tesla's board argued the pay package is essential to retain Musk as CEO and keep him focused on the company.