Tesla(US:TSLA) Benzingaยท2025-10-30 04:46Core Viewpoint - The California Public Employees Retirement System (CalPERS) plans to vote against Elon Musk's $1 trillion compensation package, citing concerns over concentration of power and the size of the package compared to other CEOs [1][2]. Group 1: CalPERS Opposition - CalPERS believes the compensation package would "concentrate power in a single shareholder" [2]. - The fund's spokesperson noted that the proposed package is significantly larger than those of other CEOs [2]. - CalPERS owns approximately 5 million shares of Tesla, representing an investment of about $2.3 billion [2]. Group 2: Previous Compensation Package - CalPERS opposed a previous $56 billion pay package, which was struck down by a Delaware court last year, although Tesla has appealed this decision [3]. Group 3: Support for Musk's Compensation - The Florida Retirement System's State Board of Administration supports Musk's pay package, describing it as a "bold, performance-driven incentive structure" [4]. - TV host Jim Cramer and Cathie Wood, CEO of ARK Invest, have also expressed support for Musk's compensation, with Wood predicting a decisive win at the upcoming shareholder meeting [5]. Group 4: Criticism of the Pay Package - Critics, including Ross Gerber from Gerber Kawasaki, have labeled the compensation award as "insanity" and questioned the independence of Tesla's Board of Directors from Musk's influence [6]. Group 5: Musk's Response to Proxy Advisors - During a recent earnings call, Musk criticized proxy advisory firms, calling them "corporate terrorists" and accusing them of making recommendations based on "random political lines" [7].