关键时刻 马斯克“万亿美元薪酬”计划 突爆重大利空！

Core Viewpoint - The Norwegian Sovereign Wealth Fund plans to vote against the proposal to grant Tesla CEO Elon Musk stock as a performance reward at the upcoming shareholder meeting, citing concerns over the total reward amount, equity dilution, and key person risk [3][4]. Group 1: Shareholder Concerns - The Norwegian Sovereign Wealth Fund currently holds 1.12% of Tesla's shares, valued at approximately $17 billion, making it the seventh-largest shareholder [4]. - The California Public Employees' Retirement System (CalPERS) also intends to vote against the proposal, holding about 5 million shares of Tesla, valued at approximately $2.34 billion [4]. - The proposal for Musk's new compensation plan, if approved, would become the largest in corporate history, with the outcome seen as a pivotal moment for Tesla's long-term strategy in autonomous driving, AI, and robotics [5][6]. Group 2: Musk's Compensation Plan - Musk could earn up to $1 trillion if he meets ambitious revenue and product goals over the next decade, including achieving a market value of $8.5 trillion and delivering 1 million humanoid robots [6]. - The plan is characterized as a high-stakes wager rather than traditional compensation, with Musk emphasizing the importance of the vote for Tesla's future [7]. - If the compensation plan is rejected, Musk has indicated he may leave Tesla or resign as CEO, highlighting the intense debate surrounding his high compensation [7]. Group 3: Board and Governance Issues - Tesla's chairwoman, Robin Denholm, has urged shareholders to support Musk's compensation plan, arguing it is crucial for retaining and motivating him for at least another seven and a half years [7][8]. - Denholm noted that Musk's role is particularly critical as Tesla aims to lead in AI and autonomous driving technology [8]. - Two consulting firms, ISS and Glass Lewis, have publicly opposed the compensation plan, citing concerns over its size, lack of board independence, and significant dilution of shareholder equity [9]. Group 4: Market Implications - Morgan Stanley has issued a risk warning regarding the upcoming shareholder meeting, suggesting that a failure of the compensation plan could be perceived as a vote of no confidence in Musk's leadership, potentially leading to a stock price drop of over 10% [10]. - If the proposal does not pass, Tesla's market value could decrease by approximately $156 billion based on its current stock price of $468.37 [11].