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00:02Investment firm Gerber Kawasaki's co-founder Ross Gerber warned that Elon Musk's trillion-dollar
00:06Tesla pay package could dilute shareholder value. Gerber said the dilution would be equivalent to
00:11$275 million per day according to a post on X. Norway's sovereign wealth fund, which holds a
00:171.12% stake in Tesla for $17 billion, said it would vote against the plan,
00:23setting concerns about dilution and key person risk. Proxy advisor Glass-Lewis echoed these
00:27warnings, as did CalPERS, which holds $2.3 billion in Tesla shares. Musk had earned billions for the
00:33pay package, emitting some of the easier milestones, even if Tesla fails to achieve all the goals set
00:38by the board. Musk has dismissed critics, calling Glass-Lewis and ISS corporate terrorists.
00:44The plan has received backing from the Florida State Board of Administration, Charles Schwab,
00:48and ARK Invest CEO Kathy Wood, who predicts the proposal will pass decisively.
00:52For all things money, visit Benzinga.com.
