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Tesla Board to Shareholders: Pay Musk or Else

The $1 trillion pay package ties Musk’s compensation to Tesla reaching $8.5 trillion market value and producing 20 million vehicles, among other milestones.

  • On November 4, 2025, Tesla shareholders are voting on a pay package for CEO Elon Musk potentially worth $1 trillion over a decade, amid more than a dozen proposals at Thursday's annual meeting.
  • Tesla's board of directors introduced the plan in early September and described it in a Sept. 5 regulatory filing as an ambitious plan to retain and incentivize Mr. Musk through a highly customized, performance-based restricted stock award with twelve separate packages.
  • Musk, who owns nearly 16% of Tesla's outstanding shares, would gain more voting power under the plan, and Bloomberg estimates his wealth at $477 billion.
  • The split among prominent investors accompanies a board warning that Musk could depart if rejected, as Norway's sovereign wealth fund opposes citing key person risk and Baron Capital Management backs the deal.
  • The plan's milestones include at least an $8.5 trillion market cap and 20 million vehicle deliveries, requiring 1 million robotaxis and 1 million Optimus robots, supporters say.
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Maryland Daily Record broke the news in on Tuesday, November 4, 2025.
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