**Who Wants to Be a Trillionaire? Elon Musk Does**
Elon Musk is aiming for a staggering $1 trillion pay package, and he doesn’t hold back against those opposing his quest. During the latest Tesla earnings call, Musk interrupted the proceedings to push for approval of his 10-figure salary plan, characterizing the advice from advisory firms opposing the move as “asinine.”
The proposed mammoth pay package would significantly increase Musk’s stake in Tesla—from 13% to as much as 29%—if he hits several ambitious performance benchmarks. Musk emphasized the need for enough voting control to maintain strong influence over the company, but not so much that he couldn’t be removed if necessary. “There needs to be enough voting control to give a strong influence, but not so much that I can’t be fired if I go insane,” Musk said near the end of the hour-long call on Wednesday, even cutting off his chief financial officer to make his point, according to a Bloomberg report.
He didn’t mince words when describing proxy advisers Institutional Shareholder Services (ISS) and Glass Lewis, who have urged shareholders to reject the $1 trillion pay package, labeling them “corporate terrorists.” Musk added, “I just don’t feel comfortable building a robot army here, and then being ousted because of some asinine recommendations from ISS and Glass Lewis, who have no freaking clue.”
ISS expressed “unmitigated concerns” about potential future adjustments to the pay levels, while Glass Lewis highlighted worries that the plan could dilute the stakes of other shareholders in the company.
As the world’s richest person, with a net worth of $487.5 billion according to Forbes, Musk has argued that the most critical component of the plan is his gain in voting control. After Musk finished, Tesla CFO Vaibhav Taneja praised the special board committee for their “amazing job” in crafting the plan. “There’s nothing which gets passed on until the time shareholders make substantial returns,” Taneja noted.
**Tesla’s Disappointing Earnings and Lofty Milestones**
Musk’s fiery comments capped a tense end to a disappointing earnings call, where Tesla missed profit estimates despite delivering record sales. The proposed 10-year compensation plan ties Musk’s payout to several ambitious milestones, including:
– Selling 20 million vehicles
– Delivering 1 million humanoid robots
– Increasing Tesla’s market value more than eightfold, to an eye-popping $8.5 trillion
According to a proxy filing obtained by Bloomberg last month, Musk warned Tesla’s board that he would abandon the electric vehicle maker to “pursue his other interests” unless he secured approximately 25% voting control and was “fully paid for his past services.”
Shareholders are scheduled to vote on Musk’s pay package during Tesla’s annual meeting in Austin on November 6.
Wedbush Securities analyst Dan Ives expressed confidence in the package’s approval despite some opposition, stating in a Wednesday night note that he believes it “will be approved by a wide margin” as the automaker aims to keep Musk “as a war-time CEO.”
**Financial Highlights and Market Reaction**
Adding to the tension, Tesla reported that its operating income plunged 40% in the third quarter, while revealing over $400 million in tariff-related costs. Operating expenses surged 50%, reaching $3.4 billion.
Tesla’s shares fell 3.8% on Thursday morning, though the stock remains up 11.1% year-to-date.
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Elon Musk’s pursuit of a trillion-dollar pay package reflects both his ambition and the high stakes involved as Tesla continues to navigate a complex and competitive market. The upcoming shareholder vote will be critical in determining the company’s leadership and future direction.
https://nypost.com/2025/10/23/business/critics-of-1-trillion-pay-for-elon-musk-are-corporate-terrorists-tesla-ceo-says/