商业洞察·2025-11-09 09:26Core Viewpoint - The article discusses the approval of Elon Musk's "trillion-dollar compensation plan" at Tesla's 2025 shareholder meeting, highlighting the intense debate surrounding it and its implications for Musk's control over the company [3][5][8]. Group 1: Compensation Plan Details - The "trillion-dollar compensation plan" was approved with a 75% support rate, consisting of a ten-year performance-based agreement with 12 tiers of goals [8][10]. - The plan includes ambitious targets such as achieving a market value of $8.5 trillion and operational goals like delivering 20 million vehicles and having 10 million active FSD subscribers [9][10]. - Musk's current ownership in Tesla is 13%, which could rise to over 25% if all targets are met, a level he considers necessary for maintaining control [10][11]. Group 2: Comparison with Nvidia and Jensen Huang - Jensen Huang, CEO of Nvidia, has a significantly lower ownership stake of only 3%, despite Nvidia being the highest-valued company globally [6][21]. - Huang's compensation is much less aggressive, with a total salary of $49.9 million for the 2025 fiscal year, contrasting sharply with Musk's plan [22][24]. - The article suggests that Huang's approach reflects a different corporate governance philosophy, focusing on employee equity rather than personal control [26][31]. Group 3: Market Context and Implications - The approval of Musk's plan is seen as a gamble for Tesla, with potential stock price volatility if the plan fails [16][18]. - Nvidia's market value has reached $4.83 trillion, and analysts predict it could exceed $8.5 trillion, aligning with Musk's ultimate goal for Tesla [18][38]. - The article raises questions about the sustainability of the tech industry's growth, particularly in light of concerns over an "AI bubble" and the implications of inter-company collaborations [39].