Elon Musk framed his $1 trillion pay package as a matter of job security during a fiery interruption of a Tesla earnings call. He told investors he didn’t feel comfortable “building a robot army” only to be “ousted” by advisory firms.
The 75-minute call had been a “ho-hum” affair about AI and robotaxis until Musk, the world’s richest person, cut off his CFO. His remarks were aimed at shareholders who will vote on the package at the Nov. 6 annual meeting in Austin.
Musk launched a verbal assault on ISS and Glass Lewis, the proxy advisory services opposing the plan. He claimed they “have no freaking clue” and were making “asinine recommendations” that were not in shareholders’ interests.
While pleading for “enough voting control to give a strong influence,” Musk also attempted to reassure investors. He stated he didn’t want unchecked power, noting he should still be “fired if I go insane.”
CFO Vaibhav Taneja concluded the call by urging investors to support the plan. He reiterated the board’s stance that the package is performance-based and ensures Musk only benefits after shareholders see “substantial returns.”