Tesla Inc. shareholders have approved a $1 trillion pay package for CEO Elon Musk during the company’s annual shareholder meeting. The package puts Musk on track to become the first-ever trillionaire in history, provided he can achieve the goals outlined in the package.
75% In Favor Of The Pay Package
Over 75% of the automaker’s total shareholders voted in favor of approving the pay package during the shareholder meeting. Musk thanked the shareholders for voting in favor, despite opposition from proxy advisors like Institutional Shareholder Services (ISS) and Glass Lewis, as well as the automaker’s major investors, including Norway’s Sovereign Wealth Fund NBIM and the California Public Employees’ Retirement System (CalPERS).
FSD, Optimus Push
On Full Self-Driving (FSD), Musk reiterated that the company’s autonomous tech was progressing and the automaker could allow “in the next month or two,” Tesla owners to “text and drive essentially.” The billionaire also highlighted the importance of the Optimus robot for Tesla, calling it “the biggest product of all time by far,” during the meeting. Musk also said that the product would be bigger than cell phones.
Musk claimed that everyone would want “their own personal R2D2 or C3PO.” He also announced plans for a production line of 1 million units for Optimus at Tesla’s Fremont facility in California, as well as a 10-million capacity line at the Gigafactory in Texas.
Tesla’s Future Plans
The approval of the pay package and the push for FSD and Optimus signal a new era of innovation and expansion for Tesla. With a favorable price trend in the Short, Medium, and Long term, Tesla is poised for continued growth and success.
Key Takeaways
- Tesla shareholders approve $1 trillion pay package for Elon Musk
- Over 75% of shareholders vote in favor of the package
- Musk highlights importance of Optimus robot and FSD technology
- Tesla plans production lines for Optimus in California and Texas
What’s Next for Tesla?
Stay tuned for more updates on Tesla’s innovative projects and expansion plans. With a focus on AI, robotics, and autonomous technology, Tesla is leading the charge in the electric vehicle industry.