Tesla Shareholders Face Musk's Trillion-Dollar Control Vote

Tesla's upcoming November 6 annual meeting will see shareholders vote on CEO Elon Musk's proposed nearly $1 trillion compensation package, which ties rewards to ambitious company milestones like increasing market cap to $8.5 trillion and EBITDA to $400 billion. The package would also increase Musk's voting control incrementally before full payout in 2035, raising governance concerns amid calls for shareholder scrutiny. Board Chair Robyn Denholm has urged support for Musk, highlighting his critical role in Tesla's evolution from a car manufacturer to a robotics and autonomous technology leader, including innovations like full self-driving and the Optimus humanoid robot. Despite Musk's pivotal role, the compensation plan faces opposition from proxy advisory firm ISS and activist groups criticizing Musk's political activities and their potential impact on Tesla's brand. Tesla's competitive edge lies in its unique blend of mass vehicle production capabilities and advanced AI for autonomous driving, positioning it ahead of tech giants and traditional automakers in the robotaxi market. Analysts note Tesla's transformation into a robotics company is underappreciated by investors focused solely on car sales, warning that competitors risk losing ground as Tesla advances its Full Self-Driving technology and broader autonomous vehicle ambitions.