Tesla(US:TSLA) Sou Hu Cai Jing·2025-11-04 14:27Core Viewpoint - The uncertainty surrounding Elon Musk's future as CEO of Tesla has increased, particularly due to the opposition from Norway's Government Pension Fund regarding his proposed $1 trillion compensation plan [1][6]. Group 1: Compensation Plan Details - The proposed compensation plan for Musk could allow him to receive over 423 million shares of Tesla stock over the next decade, potentially increasing his voting power to over 25% [5]. - The plan's total value is approximately $1.03 trillion, contingent upon Tesla's market capitalization reaching $8.5 trillion, which is nearly eight times its current valuation of about $1 trillion [5]. - Key performance milestones include delivering 20 million Tesla vehicles, achieving 10 million active FSD subscriptions, delivering 1 million robots, operating 1 million Robotaxis, and reaching an adjusted EBITDA profit of $400 billion [5]. Group 2: Stakeholder Reactions - Norway's Government Pension Fund, which holds 1.14% of Tesla's shares valued at approximately $11.7 billion, has expressed concerns about the scale of the incentives, equity dilution, and key person risk [1][3]. - The fund has previously opposed Musk's compensation plans, including a $56 billion package last year, indicating a history of conflict between Musk and the fund [3]. - The "Return Tesla" movement, consisting of unions and corporate watchdogs, has urged shareholders to reject the compensation plan, while Baron Capital, another major shareholder, has expressed support for it [6]. Group 3: Upcoming Events - Tesla's annual shareholder meeting is scheduled for November 6, where a formal vote on Musk's compensation plan will take place [6]. - The chairman of the board has warned that if the compensation plan is rejected, Musk may leave the company [6].