"Tesla investors are ditching Charles Schwab as their brokerage after the firm said earlier this week that it would vote against CEO Elon Musk's new compensation package. Several high-profile Tesla influencers are speaking out against Charles Schwab, saying its decision to vote against the plan that would retain Musk as CEO and give him potentially more voting power if he can achieve the tranches set by the company's Board of Directors."
"Schwab's move was recognized by investors within the Tesla community and now they are speaking out about it: Hey @CharlesSchwab - I need to speak with someone from Schwab Private Wealth Services this week. Please reach out via email, the mobile app message center, phone, or X DM. Here's why this is urgent: At least 6 of your ETF funds (around 7 million $TSLA shares) voted against... https://t.co/uSgPWnfTFc - Jason DeBolt ⚡️ (@jasondebolt) November 3, 2025"
"If @CharlesSchwab doesn't vote for Elon Musk's 2025 CEO Performance Award plan, I'll move all my assets to another brokerage. My followers, many of whom also hold assets with Schwab and collectively own at least hundreds of millions in $TSLA, may do the same. I can't in good... https://t.co/6iUU6PdzYx - Sawyer Merritt (@SawyerMerritt) November 3, 2025"
Several Tesla investors are leaving Charles Schwab after the firm announced it would vote against Elon Musk's new compensation package. High-profile Tesla influencers publicly criticized Schwab and urged clients to move assets if the firm did not support the 2025 CEO Performance Award plan. At least six Schwab ETFs, representing roughly 7 million Tesla shares, voted against the board recommendation to back the compensation plan. Schwab previously voted against Musk's 2018 pay package, which was later challenged in Delaware Chancery Court. Social-media posts from major Tesla advocates called for urgent contact with Schwab and threatened coordinated asset withdrawals.
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