Tesla proposes new pay plan for Musk that would expand his voting power

Tesla is seeking shareholder approval for an ambitious new compensation package for CEO Elon Musk, as revealed in a financial document released recently. This proposed plan includes 12 segments of stock that Musk could earn if the company meets specific performance milestones over the next ten years. Notably, the plan would also grant Musk a greater degree of voting power within the electric vehicle manufacturer, a change he has been advocating for since early 2024. To qualify for the initial award, both Musk and Tesla would need to significantly increase their market capitalization to $2 trillion and achieve a production and delivery milestone of 20 million vehicles. Additionally, the 2025 CEO Performance Award sets other ambitious targets for Musk, including hitting adjusted EBITDA figures, launching new products such as one million Robotaxis in commercial service, and delivering one million AI Bots. To receive the full compensation package, Musk would need to generate nearly $7.5 trillion in shareholder value. As Musk continues to navigate a complex political landscape, he simultaneously oversees multiple ventures, including SpaceX, The Boring Company, Neuralink, and xAI, the latter of which has now integrated with his social platform, X. This situation is developing, and updates are expected soon.