With Tesla Inc.'s (NASDAQ:TSLA) Nov. 6 annual shareholder meeting approaching, several prominent investors and industry leaders have voiced their support for Elon Musk's $1 trillion compensation plan, which has drawn sharp divisions between supporters and critics.
In the past, Tesla itself has urged its shareholders to support the Board’s recommendations for every proposal, including the new compensation package for Musk.
Dell, Wood Voice Support
Dell Technologies (NYSE:DELL) founder Michael Dell, on Friday, said on X that shareholders should back Musk's compensation plan, noting that the award is tied to ambitious market-cap and operational goals. "If he falls short, he gets nothing. If he succeeds, shareholders will win big through unprecedented value creation," Dell wrote.
Ark Invest CEO Cathie Wood called Musk "the most productive human being on earth" and praised his ability to attract top talent eager to tackle the world's toughest problems.
Cramer Backs Package
CNBC’s Mad Money host Jim Cramer said on Sunday that shareholders should approve the package because Tesla extends beyond electric vehicles into robotics, Full Self-Driving technology and battery development. “He’s using AI to make the best full self-driving car,” Cramer wrote on X.
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According to Tesla AI chief Ashok Elluswamy, the company is becoming “the world leader in robotics,” and Musk’s experience is crucial.
Portfolio manager Gary Black said it is highly unlikely that shareholders will reject the plan, citing Wedbush analyst Dan Ives. Investor Tom Nash also urged approval on X earlier in the week, writing, "If Tesla shareholders want Elon to stay focused on Tesla’s future, they need to approve this plan. Approve the Trillion or Lose the Vision."
Critics Voice Opposition
Despite strong support, not everyone is on board with Musk's $1 trillion compensation plan.
Proxy advisory firms ISS and Glass Lewis recommended voting against it, pointing to "unmitigated concerns surrounding the special award's magnitude and design," though they acknowledged it could generate "enormous value for shareholders."
Sen. Bernie Sanders (I-Vt.) called the package “grossly immoral” and “insane economics.”
Pope Leo XIV also criticized executive compensation disparity, questioning if such wealth concentration means “we’re in big trouble.”
The package was called ‘insanity' by investor Ross Gerber, president and CEO of Gerber Kawasaki Wealth and Investment Management, who also warned it could trigger litigation against Tesla.
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