日进2亿美元？马斯克天价薪酬如何影响特斯拉？

Core Points - The Tesla annual shareholder meeting on November 6 approved Elon Musk's 2025 compensation plan, allowing him to earn up to $1 trillion if he meets specific operational goals, despite opposition from entities like the Norwegian sovereign wealth fund [1][9][13] - This approval reflects shareholders' confidence in Musk's leadership as Tesla transitions into an era dominated by artificial intelligence and robotics, highlighting a preference for founder-driven leadership over institutional constraints [1][9][15] Summary by Sections 2018 Compensation Plan Context - The 2018 compensation plan for Musk was a ten-year performance-based stock option scheme, which was initially approved by shareholders but later overturned by a Delaware court due to concerns over the board's independence and information disclosure [5][6] - The court ruled that the process lacked fairness and transparency, leading to the plan's invalidation [6] 2025 Compensation Plan Details - The new 2025 compensation plan emphasizes stock options over cash, with 12 performance milestones tied to market value and operational achievements, potentially granting Musk 12% of Tesla's shares, valued at approximately $1 trillion [13][14] - Key operational targets include delivering 20 million electric vehicles, deploying 1 million robotaxis, and achieving $400 billion in profit over four consecutive quarters [13][14] Shareholder Reactions and Concerns - While supporters argue that the plan aligns Musk's incentives with long-term company performance, critics express concerns about the potential dilution of shares and the concentration of power in Musk's hands [10][14] - The plan's approval is seen as a commitment to Tesla's future in AI and robotics, reducing uncertainty about the company's strategic direction [15] Governance and Future Implications - The shareholder vote is viewed as a significant moment in corporate governance, balancing the need for founder leadership with the necessity of institutional checks [15] - The outcome suggests that if the plan had been rejected, it could have jeopardized Musk's continued leadership and the execution of Tesla's long-term strategy [15]