What should have been a routine earnings call for Tesla turned into a personal pulpit for CEO Elon Musk. The billionaire interrupted the 75-minute proceeding to plead with investors to approve his controversial $1 trillion pay plan.
The interruption came at the tail end of the call, cutting off Tesla’s CFO. Musk immediately launched into a defense of the package, which shareholders will vote on at the Nov. 6 annual meeting in Austin. The call had, until that point, been a “ho-hum” discussion of AI, Optimus robots, and robotaxis.
Musk’s primary argument centered on his fear of being removed by advisory firms. “I just don’t feel comfortable building a robot army here and then being ousted,” he stated, referring to his ambitions in AI. He argued he needed “enough voting control to give a strong influence” over the company’s direction.
He specifically blasted proxy advisory services ISS and Glass Lewis, who have recommended against the pay plan. Musk claimed their recommendations were “asinine” and that the firms “have no freaking clue,” accusing them of not acting in shareholders’ interests.
CFO Vaibhav Taneja offered the final words, backing the board’s proposal. Taneja argued the package was contingent on performance, ensuring Musk only benefits if shareholders see “substantial returns.” He urged investors more than once to vote in favor.
Elon Musk Hijacks Call for ‘Robot Army’ Pay Defense
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Picture Credit: www.nara.getarchive.net
