Elon Musk Prioritizes Control Over $100B Tesla Compensation

Elon Musk, the CEO of Tesla, has recently articulated his primary concern regarding his compensation package, emphasizing that maintaining control over the company's voting rights is more critical than the substantial financial rewards. Musk's compensation package, if all predefined milestones are achieved, could amount to a staggering $100 billion, along with an additional 423 million shares, which would elevate his voting control to approximately 29%.

In a post on the social media platform X, Musk clarified that the core issue is not about the compensation but about ensuring he has sufficient influence to guarantee safety, especially as Tesla aims to mass-produce millions of robots in the future. He expressed his unwillingness to accept a scenario where he could be ousted by activist shareholders who do not even own Tesla stock. This statement underscores Musk's priority of maintaining control over Tesla's decision-making processes, which he believes is crucial for the company's long-term success and safety standards.

The compensation package, while substantial, is secondary to his goal of securing voting control, which he views as essential for implementing his vision and ensuring the company's strategic direction. Musk's emphasis on control reflects his belief that having a significant say in the company's future is more important than the financial gains associated with his compensation. This perspective aligns with his long-term vision for Tesla, which includes ambitious projects such as mass-producing robots and advancing autonomous driving technology.

Tesla's annual shareholder meeting is scheduled for November 6 in Austin, Texas, at the Texas Gigafactory. Registered shareholders as of September 15 will be able to participate in the meeting online, exercise their voting rights, and submit questions to the management. Musk's statements ahead of the meeting highlight his determination to maintain a strong influence over the company's direction, ensuring that his vision for Tesla's future remains intact.