""I just don't feel comfortable building a robot army here and then being ousted because of some asinine recommendations from ISS and Glass Lewis who have no freaking clue. I mean, those guys are corporate terrorists," Musk said Wednesday on Tesla's quarterly earnings call, referring to the proxy advisory services who are urging investors to reject the pay plan. Musk insisted the package isn't about personal gain-but rather about ensuring he retains enough influence to steer Tesla's next chapter, focused on AI, robotaxis, and humanoid robots."
""It's called compensation, but it's not like I'm going to go spend the money," Musk added. "It's just, if we build this robot army, do I have at least a strong influence over that robot army, not current control, but a strong influence? That's what it comes down to in a nutshell. I don't feel comfortable wielding that robot army if I don't have at least a strong influence.""
Elon Musk is defending a proposed Tesla compensation plan that could award him up to $1 trillion in stock if key performance targets are met. The targets include growing Tesla to an $8.5 trillion market capitalization, a more than 500% increase from current valuation. Musk says the package ensures he retains strong influence over future AI, robotaxi, and humanoid-robot efforts and prevents being ousted by proxy advisors. If approved, Musk's stake could rise from about 13% to nearly 29%, giving him voting influence in the mid-20s percent range while preserving shareholder power to remove him. Musk's net worth is about $455 billion.
Read at Fortune
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