Elon Musk ended Tesla's earnings call Wednesday with a fiery outburst over his proposed $1 trillion pay package, blasting the advisers trying to block it and warning shareholders that his future at Tesla is on the line. Musk rejected the idea that his deal is simply "compensation," telling investors the real question is whether he'll have enough voting power to steer Tesla's ambitions in AI, robotaxis, and humanoid robots, which he predicts will release humanity from the need to work, per Wired. "I just don't feel comfortable building a robot army here and then being ousted because of some asinine recommendations from ISS and Glass Lewis," Musk said, per Business Insider, referring to the influential proxy advisory firms.
Musk said he wants enough voting power—around "mid-20s" percent—to keep a firm grip on Tesla, though not enough to make himself untouchable if he goes "insane." He said he was requesting to maintain a "strong influence" on the company, not "control" it, per Wired. His comments came as Tesla's leadership pushed shareholders to back the compensation plan that would be the largest in corporate history. It would award Musk up to $1 trillion in stock over the next decade if he meets eye-popping goals: a $8.5 trillion market cap; millions of cars, robotaxis, and humanoid robots sold; and a surge in earnings from $16.6 billion to $400 billion.
If the package passes, Musk's stake in Tesla could double, giving him nearly 29% of the company. The board says rejecting the deal could mean Musk walks away or pulls back on his involvement. ISS and Glass Lewis have urged investors to reject the deal, but backers like Ark Invest's Cathie Wood predict it will pass easily. After the call, Musk doubled down on X, accusing the proxy firms of wielding too much power and voting "along random political lines." He called for tighter regulation of the firms, arguing they should be registered as investment advisers. (Tesla's profits tanked in the last quarter.)
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