Summary
Tesla shareholders will vote on a new pay package for CEO Elon Musk that could make him the world's first trillionaire. Musk must achieve certain business goals, like producing 20 million cars in ten years, to get the full benefits. Some investors support the plan, while others have raised concerns about its fairness.
Key Facts
- Tesla's annual meeting takes place in Austin, Texas, where shareholders will vote on a pay package for Musk.
- If approved, the package could make Musk the first person ever to have a net worth of $1 trillion.
- Musk needs to meet specific targets, like delivering 20 million Tesla cars in ten years, to receive the full package.
- Shareholders first learned about this proposal in a detailed 200-page document.
- Musk can vote his own shares, which represent 15% of the company.
- Some pension funds oppose the package, citing concerns about income inequality and Musk's recent behavior.
- Supporters argue Musk's leadership is crucial for Tesla's future innovations like self-driving cars and robots.
- Musk has hinted he might leave Tesla if the package isn’t approved.
