If you're a Tesla investor, you're betting on Elon Musk, says WSJ's Tim Higgins

Core Viewpoint - Tesla's annual meeting is focused on shareholder voting regarding Elon Musk's compensation package, which could potentially be worth up to a trillion dollars over the next decade if performance targets are met [1] Group 1: Shareholder Concerns - There is significant concern among Tesla and Elon Musk supporters about the company's valuation if Musk's compensation proposal does not pass, as his vision is integral to the company's high stock value [2][3] - Some shareholders are voting against the compensation proposal, feeling they are being held hostage by Musk's demands for control over the company [4] - The chair of Tesla, Robin Denholm, has expressed that the company’s future without Musk could be unfavorable for investors [3][4] Group 2: Musk's Control and Vision - Musk seeks more control over the company to prevent potential issues, such as activist investors, while claiming he does not want total control [5][6] - The compensation proposal is seen as shareholder-friendly since it ties Musk's pay to performance, meaning he only gets compensated if targets are met [7] - The board has previously provided Musk with substantial stock rewards, attempting to compensate for a previous package that was invalidated by a court [8][9] Group 3: Valuation and Future Prospects - A significant portion of Tesla's current valuation is based on the potential of future technologies, including robots and robo-taxis, which are still in development [10] - There is a belief that Tesla could become one of the most valuable companies globally based on the anticipated capabilities of these robots [10][11]