Tesla Stock Climbs Premarket As Musk Defends $1 Trillion Pay Package

Benzinga

Tesla stock rose in premarket trading after a recent dip, with focus on Elon Musk’s proposed $1T pay package. The plan ties his future stake to Tesla reaching an $8.5T market cap, as shares surge 28% in September.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Tesla shares rose 0.7% to $428.99 in pre-market trading on Wednesday,

00:08rebounding after a 2% decline in the previous session, that according to Barron's.

00:12Investors are closely watching Tesla as the board's proposed $1 trillion pay package

00:16aims to keep CEO Elon Musk motivated and focused on the company.

00:20Musk defended the plan on X, saying it ensures he retains influence over Tesla's future

00:24amid concerns about activist shareholder pressure.

00:26Musk's proposed 2025 Performance Award would grant him stock options equal to 12% of Tesla's shares.

00:33The options would fully invest if Tesla hits an $8.5 trillion market cap, about $2,700 a share.

00:38Stock has surged 28% in September, making it the best performer among the Magnificent Seven.

00:43For all things money, visit Benzinga.com.

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