"At a normal company, years of sliding sales, multiple public controversies and endlessly volatile share prices would cost the CEO his or her job. But on Thursday evening, Tesla shareholders proved yet again that it's not a normal company, handing CEO Elon Musk an unprecedentedly large $1 trillion pay package. The vote to greenlight Musk's new compensation was approved with 75% of the vote, company officials announced at the annual shareholder meeting in Austin."
""I'd like to just give a heartfelt thanks to everyone who supported the shareholder votes," Musk said, beaming onstage as he spoke of Tesla's future plans for autonomous cars, robots and what he calls "sustainable abundance via AI and robotics." "That's the future we're headed for," Musk said, adding that he believed Tesla's humanoid Optimus robot would "10x the economy," without elaborating on how he came to that conclusion."
"Earlier, Musk had threatened to leave the company entirely if his pay package was not granted, which most experts and analysts believed would have torpedoed its stock price and market capitalization. Tesla is currently valued more highly than about a dozen other carmakers combined, on the premise that it alone can be first to deliver fully autonomous cars, then humanoid robots and advanced AI."
Tesla shareholders approved a $1 trillion compensation package for CEO Elon Musk with 75% support at the annual shareholder meeting. The package conditions payouts on extremely ambitious milestones, including 20 million vehicles delivered, 10 million Full Self-Driving subscriptions, one million humanoid robots delivered, and one million robotaxis operating. Musk thanked supporters onstage and described goals for autonomous cars, robots and "sustainable abundance via AI and robotics," claiming the Optimus robot would "10x the economy." Musk had warned he might leave if the package failed. Tesla's valuation reflects expectations of leadership in autonomy and robotics.
Read at insideevs.com
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