Elon Musk made a direct appeal to Tesla investors during the company’s earnings call, asking them to approve his trillion-dollar compensation package despite proxy advisor opposition. The personal appeal came ahead of the November 6 shareholder vote that will determine the package’s fate.
Tesla’s quarterly financial review had addressed advances in artificial intelligence, robotaxi technology, and humanoid robotics before Musk’s dramatic intervention. His decision to make a direct personal appeal to investors demonstrated the urgency he feels about securing shareholder support for maintaining adequate control over the company.
Musk explained his need for sufficient voting influence to guide Tesla’s strategic initiatives while remaining subject to shareholder accountability. He presented the compensation issue as essential for protecting the company’s ambitious technology projects from removal threats based on what he characterized as incompetent external advice.
ISS and Glass Lewis bore the brunt of Musk’s criticism, with the CEO accusing them of issuing misguided recommendations that don’t serve shareholder interests. His passionate denunciation included references to the discomfort of developing advanced robotics while facing potential ouster based on their advice.
The earnings call concluded with CFO Vaibhav Taneja defending the compensation structure’s shareholder alignment. Taneja emphasized that the board committee designed the package to ensure Musk benefits only when investors achieve substantial returns, making multiple direct appeals for favorable votes.