Tesla CEO Musk Condemns Proxy Firms Opposing $1 Trillion Pay Plan
Tesla CEO Musk Condemns Proxy Firms Opposing $1 Trillion Pay Plan

Tesla CEO Musk Condemns Proxy Firms Opposing $1 Trillion Pay Plan

News summary

Tesla CEO Elon Musk is facing opposition from proxy advisory firms Glass Lewis and Institutional Shareholder Services (ISS) over his proposed $1 trillion pay package, which would reward him if Tesla's market valuation reaches $8.5 trillion and achieves other ambitious milestones, including selling one million AI robots and operating one million self-driving robotaxis. Musk has strongly criticized these firms, calling them "corporate terrorists" and accusing them of making recommendations that do not align with shareholder interests, often influenced by political considerations. He defended the pay plan during Tesla's third-quarter earnings call, emphasizing his need for increased voting power—targeting about 25%—to maintain strong influence over Tesla without being unaccountable. Proxy firms have warned that the pay package could dilute shareholder stakes and grant Musk extraordinary compensation without guaranteed exceptional performance. Despite the controversy, Tesla continues to advance its Optimus robot project, which Musk describes as an "infinite money glitch" with the potential to significantly boost productivity. The shareholder vote on the compensation plan is set for November 6, with Musk and Tesla executives urging approval while facing scrutiny from investors and regulatory challenges.

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Left 33%
Center 33%
Right 33%
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3
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1
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1
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Last Updated
6 hours ago
Bias Distribution
33% Center
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