Future Fund LLC’s managing director, Gary Black, anticipates that a majority of shareholders will approve Tesla Inc. CEO Elon Musk‘s trillion-dollar pay package during November’s shareholder meeting. Black expressed his expectations on social media, stating that he forecasts a “bullish” atmosphere at the meeting, with an “overwhelming (70-75%) approval” for the compensation package.
An ‘Overwhelming Approval’
Black’s comments come as International Shareholder Services, a leading proxy advisory firm, has opposed Musk’s CEO compensation award. However, ARK Invest‘s CEO Cathie Wood has defended the package, calling the advisor’s index-based investing recommendations a “form of socialism” and predicting that the package will receive approval from the Board.
Opposition and Support
Not everyone is optimistic about the package, however. Ross Gerber, co-founder of investment firm Gerber Kawasaki, has called the pay package “insanity” and questioned the Tesla Board of Directors’ independence from Musk’s influence. Despite this opposition, Black remains confident that the package will be approved, citing the significant support from major shareholders.
Market Insights
Tesla scores well on Momentum, Quality, and Growth metrics but offers poor Value. The company also exhibits a favorable price trend in the Short, Medium, and Long term. For more insights and rankings, consider utilizing stock ranking tools to make informed investment decisions.
Key Points
- Gary Black predicts overwhelming support for Elon Musk’s $1 trillion compensation deal
- International Shareholder Services opposes the package, while ARK Invest’s Cathie Wood defends it
- Ross Gerber calls the pay package “insanity” and questions the Tesla Board’s independence
- Tesla exhibits favorable price trends, but offers poor Value
Next Steps
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