'Take Back Tesla Movement' Calls Musk’s $1 Trillion Pay Package Outrageous, Urges Investors To Vote Against Musk’s $1 Trillion Compensation

Benzinga

Unions and watchdogs launched “Take Back Tesla,” urging investors to reject Elon Musk’s proposed $1T pay package. The group calls it excessive, while Tesla defends it as justified by its 20-fold market cap growth since 2018.

Transcript

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

00:02A coalition of unions and corporate watchdogs has launched Take Back Tesla,

00:06a campaign urging shareholders to reject a $1 trillion pay package for CEO Elon Musk.

00:10And according to CNBC, the proposal floated by Tesla's board in September

00:14would extend Musk's control over the company for another decade

00:17and is slated for a vote at next month's annual meeting.

00:20The Take Back Tesla campaign calls Musk's $1 trillion pay package outrageous,

00:24setting his political activities as distractions from his leadership at Tesla.

00:27The group urges the public to pressure state treasurers and financial officers

00:31to reject the plan and will share materials to help investors influence fund votes.

00:35Tesla has defended the proposal, arguing that shareholders have benefited

00:38for the company's 20-fold market capitalization growth since 2018.

00:42For all things money, visit Benzinga.com.

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