What began as a “ho-hum” Tesla earnings call about AI initiatives and the Optimus robot transformed into a personal platform for CEO Elon Musk. The world’s richest person interrupted his CFO near the end of the 75-minute call for a passionate, impromptu speech.
The sole topic of Musk’s fiery closing remarks was his proposed $1 trillion compensation package. This colossal pay plan is facing an uphill battle, with a decisive shareholder vote scheduled for the company’s annual meeting in Austin on November 6.
Musk framed his appeal around the company’s ambitious future, particularly in robotics. “I just don’t feel comfortable building a robot army here and then being ousted,” he stated, linking the pay package to the need for voting control. He argued for a “strong influence” to see his vision through.
In a classically Musk-like statement, the CEO balanced his request for power with a nod to accountability. He clarified that while he wants influence, it should “not [be] so much that I can’t be fired if I go insane.” This line came amidst his broader criticism of advisory firms.
Musk specifically targeted proxy services ISS and Glass Lewis, whose recommendations against the plan he called “asinine.” He accused them of having “no freaking clue.” CFO Vaibhav Taneja ended the call by defending the package, stating it was tied to “substantial returns” for shareholders and urged a “yes” vote.
