Tesla Shareholders Approve Elon Musk’s $1 Trillion Pay Package

On Thursday, [Tesla](https://www.wired.com/tag/tesla/) shareholders approved an [unprecedented $1 trillion pay package](https://www.wired.com/story/elon-musk-trillion-dollar-tesla-pay-package/) for CEO [Elon Musk](https://www.wired.com/tag/elon-musk/). The full compensation plan will go into effect by 2035—assuming Musk and the company successfully hit ambitious financial and production targets. If that happens, Musk will also get control of some 25 percent of the business, up from the 12 percent he controls currently. More than 75 percent of Tesla shareholders approved the move in a preliminary vote. Musk celebrated the news onstage at Tesla’s Gigafactory in Austin, Texas, appearing alongside two dancing humanoid robots, the company's Optimus products. “Look at us, this is sick,” he said. To meet its goals, however, Tesla will have to lead in industries well beyond electric cars—and guarantee that Optimus can do much more than dance. It will also have to beat all competitors in autonomous driving technology and robotics. “Tesla will have to be the market leader not just in the US, but also Europe and other regions,” says Seth Goldstein, a senior equity analyst at Morningstar, a financial services firm. Specifically, Tesla needs to hit a $8.5 trillion valuation over the next 10 years, deliver 20 million vehicles to customers, send out 1 million robots, operate 1 million robotaxis, and sell 10 million subscriptions for its “Full Self-Driving” software over a three-month period—in addition to other financial targets. Read the full story here: [https://www.wired.com/story/tesla-shareholders-approve-musk-1-trillion-dollar-pay-package/](https://www.wired.com/story/tesla-shareholders-approve-musk-1-trillion-dollar-pay-package/)

Buy submarines!

1 trilions spit in his face

SpaceX makes those.

Can he survive his drug habit for another ten years?

Win stupid prizes!

Ohhh, the downfall is going to be epic. One for the history books, provided our society survives the downfall. lol.

Let me get this straight, If Elon Musk didn't vote his own shares on his own pay package due to ethics concerns that he has abided by in the past, the most this proposal would have gotten was \~63% max (possibly a lot lower if there were many abstentions or non votes). And would have failed due to a super-majority (2/3s) requirement for proposals? Did I get this right or am I getting some details wrong here?

No

I hope you're wrong. But I don't think you are.

Never happening. I will be able to shit diamonds before any of this.

Now thats really worth trillions.

I'll down a couple gas station taquitos and pop out a 4 pounder for ya. 🤘🏽

Anyone want to bet those "humanoid robots" where really people in costumes? Wait Optimus would have to outperform Boston dynamics?

If I am reading this right, Optimus would have to outperform Boston dynamics (the same Boston dynamics who has a robot that can literally do gymnastics)...

Optimus is equivalent to a wet fart after gas station burrito covered in that bagged chilli.

Or some brain worms after eating... Whatever the hell rfk jr eats

lol. Just a little heroin covered swamp meat. Dudes is a gd leathered goblin

Oh, FFS!

I sure hope not

🤡

I imagine he employs multiple doctors to make sure that he can stay on the drugs he's on so he can survive. This gives him the ability to impregnate a woman every month or less and continue to destroy the things he created.

Wait he could vote his own shares… ? that’s why it was 75%. LMAO…

I would say it's 75% of the share holders allowed to vote, rather than of all shareholders.

They are fucking crazy

If he had to recuse himself, then his shares wouldn’t count towards the total vote denominator. Without Elon’s vote, the rest of the shareholders voted 71.5% for the measure

Well, the thing is that the only requirement that is not in his hand is the market cap. He can literally buy all the items in the sales target for less than a trillion. profit!

True, my math was if his yes vote turned into a no vote which isn't realistic and was a mistake. But if only roughly 50% of shares voted with the rest not voting, then him abstaining would have pushed the vote down below 66%.

I don't think he can buy much. Share trade sure.

Kids without food rejoice!

Unfortunately ketamine abuse isn’t lethal

I love this for them. Imagine approving a pay package for your CEO that's bigger than half your company's valuation. sMaRt.

Surely it’s IVF which is getting these women pregnant from Musk.

[ Removed by Reddit ]

“Look at us, this is sick.” One: what a monumental DORK. Two: yes it is, just not in the way you mean.

Tell that to Matthew Perry.

That didn’t work out for Elvis or Michael Jackson

That’s a lotta blow

Combined with baths it is.

Hope is a wonderful thing!

I doubt if his ego would be able to tolerate a proxy like act.

Apparently ketamine is the nemesis of erections.

I don't think it makes you a great CEO either.

Yes, he was allowed to vote with his shares. The full 15% of Tesla shares he owns. Ridiculous. The CEO, C executives and directors should in my opinion never be able to vote with their shares as long as they are in the company or that role. It hinders the effective oversight by shareholders of the corporation if the corporation can just vote by intermediary.

It’s definitely IVF.

That does seem wrong.

There are some vague statements in the legal docs which could act like reasons to pay part of it, even if the targets are not met.

>the most this proposal would have gotten was \~63% max Did I get this right or am I getting some details wrong here? the proposal got 76.9% approval, with 90% turnout and 0.5% abstention. if Elon hadn't voted, approval would be at 71%, not 63%

All it is, he will receive more stock at a "lower" price. He will have a higher percentage of a bull shit fraudulently evaluated stock. I'm sure it will be manipulated in a way that he gets his shares. In reality, no way Tesla hits any goal.

This is just elon for "Hold my cosmo" its gonna be a wild 36 months. he better hope that flying roadster is gonna be real without having to buy joby and ruining that company too.

Full Self Diamond Shitting (Supervised, actually feces)

That's why he splashed $1b on shares a few months ago. He was grasping at straws to make sure he could guarantee the numbers.

Just not for pedo guys. Quite the projection from a guy who has been pictures with Epstein on several occasions.