Elon Musk, CEO of Tesla, speaks during the 2025 Annual Shareholder Meeting connected Nov. 6, 2025.
Courtesy: Tesla
Tesla shareholders voted past week to springiness CEO Elon Musk a grounds wage package, 1 that could nett him astir $1 trillion successful institution banal implicit the adjacent decade. But Musk received little enactment than helium did for an earlier wage program successful 2018.
Setting speech holdings owned by committee members and executives, astir 66% of shares tabulated successful the ballot were successful favour of the package, according to a filing connected Friday. When shareholders voted connected the 2018 plan, that fig was 73%, according to an investigation by Andrew Droste, caput of firm governance astatine concern steadfast Columbia Threadneedle.
In announcing the preliminary results connected Thursday astatine the company's yearly shareholders meeting, Tesla said the program received 75% enactment among voting shares. The institution number included insiders similar Musk, who held astir a 15% involvement successful Tesla going into the proxy and was allowed to ballot his shares.
The diminution from the anterior ballot follows a tumultuous agelong for Musk and Tesla. Sales slumped successful the archetypal fractional of the year, successful portion due to the fact that of Musk's inflammatory governmental rhetoric and his enactment for the Trump administration, slashing the size of the national government. Tesla's marque worth has besides deteriorated.
Still, Droste said successful an email that adjacent astatine a 66% level, the ballot represents "broad enactment for Elon among Tesla's shareholder base." Most investors admit that Tesla and Elon Musk are "inextricably linked," helium wrote, and were "unwilling to hazard his imaginable departure by allowing this ballot to fail."
Board members recommended shareholders o.k. the wage plan, which they introduced successful September. Top proxy advisors Glass Lewis and ISS had recommended that investors ballot against it.
The wage bundle for Musk, already the world's richest person, consists of 12 tranches of shares to beryllium granted if Tesla hits certain milestones over the adjacent decade. The archetypal tranche of banal gets paid retired if Tesla hits a marketplace capitalization of $2 trillion, astir $500 cardinal much than the existent valuation. Awards tied to marketplace headdress gains are paired with operational achievements.
Musk could inactive cod much than $50 cardinal by hitting a fistful of the much attainable goals laid retired for him by the committee successful the caller wage plan. There are besides a database of "covered events" successful the grant presumption that would let him to gain his shares without gathering required operational milestones.
Tesla didn't instantly respond to a petition for comment.
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