Elon Musk's $1 trillion pay package approved by Tesla

Core Insights - Elon Musk could potentially receive a $1 trillion pay package if Tesla meets ambitious targets over the next decade [1] - The plan requires Tesla to produce 20 million vehicles and roll out one million AI-powered robots [2] - Musk's current ownership stake could increase from 13% to nearly 29% as he meets these targets [2] Group 1: Company Goals and Targets - Tesla aims to innovate in robotics, self-driving technology, and artificial intelligence, with a significant portion of its market value tied to these ambitions [5] - The board believes Musk is essential for achieving these lofty goals, emphasizing that he is the only leader capable of steering Tesla through this critical period [6] - Approval of Musk's pay package is seen as a crucial step towards advancing Tesla's future objectives [7] Group 2: Investor Perspectives - Institutional Shareholder Services (ISS) expressed concerns that the 10-year pay agreement limits the board's ability to adjust pay levels in response to unforeseen events [8] - ISS also noted that the high value of each pay tranche could undermine Musk's motivation to achieve all goals, citing a lack of precision in the targets [9] - Musk has criticized ISS and another advisory firm, Glass Lewis, labeling them as "corporate terrorists" amid speculation that he might leave the company if the pay package was not approved [9]