With the November 6 shareholder vote approaching, Elon Musk made a last-ditch appeal during Tesla’s earnings call for approval of his trillion-dollar compensation package. The world’s richest person spent the call’s final moments criticizing proxy advisors and explaining his need for continued control.
Tesla’s quarterly financial discussion had systematically covered the company’s AI initiatives, autonomous vehicle progress, and Optimus robot development before Musk’s intervention. His decision to interrupt the CFO and make a direct appeal demonstrated the urgency he feels about securing shareholder support.
Musk explained his need for adequate voting influence to guide Tesla’s strategic initiatives while remaining accountable to investors. He framed the compensation issue as essential for protecting the company’s ambitious technology projects from removal threats based on what he characterized as incompetent external advice.
The CEO launched particularly harsh attacks on ISS and Glass Lewis, accusing these proxy advisory firms of lacking proper understanding of Tesla’s business and issuing misguided recommendations. Musk expressed specific concern about being removed from leadership of robotics programs based on their advice.
CFO Vaibhav Taneja concluded the call by defending the compensation package’s performance-based structure and shareholder alignment. The CFO explained that the board designed the plan to ensure Musk receives payment only when investors see substantial gains, making multiple direct appeals for shareholder approval.
