Musk Asks for $1 Trillion Pay Package to Maintain Control of Tesla

Elon Musk is asking for a trillion dollar pay package. He says it's to protect Tesla from what he calls corporate terrorists. Entities David Lamb reports. >> Elon Musk recently said he would need $1 trillion to protect his company Tesla from losing control to corporate advisory firms. He was referring to two powerful research companies that advise shareholders on how to vote, calling them corporate terrorists. In an earnings call for Q3, Musk explained why >> I just don't feel comfortable building robot army here and not and then uh you know being ousted because of some asine uh recommendations from ISS and Glass Lewis. They have made many terrible recommendations in the past that if those recommendations have been followed would have been extremely destructive to the future of the company. On Wednesday, Tesla reported a record $28 billion in revenue, surpassing Wall Street estimates driven by strong EV sales as buyers were incentivized by tax credits before they expired in September. Despite this, profit dropped by 37% due to costs. Musk said passive index funds that control much of Tesla's shares follow recommendations from the research firms. For example, Glass Lewis and ISS were against the previous compensation package for Musk, which was ultimately approved by holders of 84% of Tesla shares. Musk owns 413 million Tesla shares, 13% of the company, and has said he wants around 25%. Tesla's board said the package is needed to keep him focused on Tesla since he is also CEO of SpaceX and the primary owner of X AI. David Lamb, NTD News.