Tesla Shareholders Oppose Elon Musk's $1 Trillion Pay Package Amid Governance Concerns, EV Tax Credit Expiration

Benzinga

Tesla shareholders and state officials urged investors to reject Elon Musk’s $1 trillion pay package, citing poor oversight and loyalty concerns. The group also opposed re-electing key directors amid performance and demand risks. Supporters, including Morgan Stanley’s Adam Jonas, argue the plan rewards innovation in AI, robotics, and autonomy tied to shareholder value creation.

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

00:02Tesla shareholders, including SoC Investment Group and officials from Nevada, New Mexico,

00:06and Connecticut, urged investors to reject CEO Elon Musk's $1 trillion pay package,

00:11according to a regulatory filing. The group also opposed re-electing directors Ira Enthaprice,

00:16Joe Gebbia, and Kathleen Wilson-Thompson, citing weak oversight and excessive loyalty to Musk.

00:22Investors and shareholders warn of weakening performance and potential demand risks from

00:26expiring U.S. EV tax credits, despite record deliveries. Morgan Stanley analyst Adam Jonas

00:31supported Musk's pay package, citing shareholder gains from growth in robotics and self-driving

00:35technology. Tesla said Musk's performance-based pay plan links his compensation to trillions in

00:41shareholder value and grants him nothing if targets aren't met. Board Chair Robin Denholm said the pay

00:46deal centers on voting influence, while Musk framed the vote as a matter of maintaining control.

00:50For all things money, visit Benzinga.com.

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