Elon Musk Demands Tesla Shareholders Approve His $1 Trillion Compensation Deal

Tesla’s earnings call took an unexpected turn when CEO Elon Musk, the world’s wealthiest individual, used the closing moments to make an impassioned plea for his controversial trillion-dollar pay package. The Tesla shareholders are scheduled to vote on this unprecedented compensation plan at the company’s annual meeting in Austin on November 6.
Musk’s impromptu intervention came at the end of a 75-minute earnings call that had focused on Tesla’s artificial intelligence initiatives, Optimus robot development, and the company’s upcoming robotaxi service. Breaking from the standard corporate script, Musk interrupted his Chief Financial Officer to voice his concerns about maintaining sufficient control over the electric vehicle giant.
The billionaire entrepreneur expressed his desire for “enough voting control to give a strong influence” while acknowledging the need for accountability, stating he shouldn’t have “so much that I can’t be fired if I go insane.” This candid admission reflected Musk’s characteristic approach to corporate communication, blending humor with serious business concerns.
Musk specifically criticized proxy advisory services ISS and Glass Lewis, who have recommended against the compensation package. He argued these firms lack understanding of Tesla’s business and don’t represent shareholders’ true interests. His frustration was evident when he stated he doesn’t “feel comfortable building a robot army here and then being ousted because of some asinine recommendations” from these advisory firms.
Tesla’s CFO Vaibhav Taneja concluded the call by defending the compensation package, explaining that the board committee structured it to ensure Musk only benefits when shareholders achieve substantial returns. Taneja repeatedly urged shareholders to vote in favor of the plan, emphasizing the alignment between Musk’s compensation and shareholder value creation.