Elon Musk has called major investor advice firms opposing his $1trn pay package “corporate terrorists”.
Mr Musk, the world’s richest man, is continuing to lobby for the pay award from his electric vehicle company, Tesla.
He defended the sum during a Tesla earnings call on Wednesday, and criticised opponents – in particular two firms that help large investors decide how to vote at shareholder meetings.
The billionaire took aim at Institutional Shareholder Services (ISS) and Glass Lewis after the firms recommended shareholders vote against approving his new pay plan.
Mr Musk said ISS and Glass Lewis “have no freaking clue” and described them as “corporate terrorists”.
Explaining his desire for more control of the company, of which he is chief executive, he said: “I just think that 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.”
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Next month, Tesla investors will vote on a proposal that would give Mr Musk a greater say in the company, which he co-founded.
Shareholders will vote on whether to increase Mr Musk’s ownership of the business from 13% to nearly 29% if the company sells 12 million vehicles, produces one million humanoid robots, and launches one million robotaxis under his tenure.
Under the proposal, he would receive no salary or bonus but instalments of company shares for hitting the ambitious targets also around increasing Tesla’s market share, revenue and company value.
It is part of an effort by Tesla to ensure Mr Musk’s attention is kept on his work for the business after his heavy involvement with the Trump administration’s Department of Government Efficiency (DOGE).
It comes as Tesla reported record car sales as people rushed to buy an electric vehicle (EV) before a US subsidy came to an end.
Despite the highest-ever quarterly sales, Tesla’s share price sank 4% as it missed profit targets…
