"If Tesla hits performance targets, the record-setting compensation package would give Musk up to $1 trillion worth of Tesla stock over the next decade and a powerful vote on the company's board of directors. During the earnings call, Musk said he wants roughly a quarter of the board's vote share. He also provided an engineering update on Optimus, Tesla's humanoid AI robot, which he promised investors would be an "incredible surgeon.""
"Wall Street is watching for improvement in electric car sales at Tesla, not robots that can replace doctors or form an "army," and the company's stock value tumbled immediately after the call. As the public grows increasingly wary of the billionaires pushing AI, Musk's "robot army" comments have added fuel to the fire for the Take Back Tesla campaign, a coalition of labor unions and watchdog groups urging Tesla shareholders to reject the proposed compensation package at a shareholder meeting scheduled for November 6."
Elon Musk linked a proposed $1 trillion compensation package to plans to build a massive "robot army" and to development of Optimus, a humanoid AI robot he described as an "incredible surgeon." The package would award up to $1 trillion in Tesla stock over the next decade and grant substantial board voting power, with Musk seeking roughly a quarter of the board's vote share. Musk expressed concern about being ousted if he built the robot army and sought stronger influence. Tesla's stock fell after the remarks. Public and union-led activists urged shareholders to reject the package at a November 6 meeting.
Read at Truthout
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