Tesla shares rose more than 3% in after-hours trading after the vote. Shareholders also re-elected three board members and approved a plan to replace Mr. Musk’s old compensation package, which has been stalled by litigation in Delaware.
Analysts said the results were a positive sign for Tesla shares, even though the brand's reputation has been somewhat affected by Mr. Musk's controversial political statements. The fact that he was allowed to exercise all of his voting rights, equivalent to 15% of the shares, after Tesla moved its headquarters to Texas, also helped the plan pass despite opposition from several major investors, including Norway's sovereign wealth fund.
Tesla’s board had warned that Mr. Musk could leave the company if the compensation package was not approved. The vote is expected to help reassure investors concerned about his splitting focus between Tesla, aerospace company SpaceX, and artificial intelligence company xAI.
To receive his full compensation, Musk must help Tesla achieve a series of ambitious goals, including producing 20 million electric cars, deploying 1 million self-driving taxis, and selling 1 million robots over the next decade, along with a core profit of up to $400 billion. The company's market capitalization must also increase from its current level of about $1.5 trillion to $2 trillion, and aim for the $8.5 trillion mark.
Under the new compensation package, Mr. Musk could receive up to $878 billion in Tesla stock over 10 years. The maximum $1 trillion would only be reached if he met all of the targets and returned some of the stock value to the company.
Source: https://baotintuc.vn/kinh-te/ty-phu-elon-musk-se-duoc-nhan-goi-luong-thuong-1000-ty-usd-20251107104437919.htm
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