Tesla shareholders approve Elon Musk’s $1 trillion pay package

During the Q&A portion, one retail investor took the mic with a simple request: bigger venue, please. “We’re bigger than Berkshire,” he told Elon Musk, referencing Warren Buffett’s famous Omaha shareholder meetings that draw thousands of attendees and turn into a full-blown festival.

Musk nodded, clearly amused, and didn’t say no.

The moment highlights just how massive Tesla’s retail investor base has become. Even if you’ve never bought TSLA shares directly, you might still own some through your 401(k). That’s because S&P 500 index funds, which anchor many retirement plans, include Tesla among their largest holdings.

As the conversation turned technical, Elon Musk made it clear: to build fleets of autonomous cars and humanoid robots, Tesla needs way more chips… and fast.

He listed a few current sources: chips from TSMC in Taiwan, Texas, and Arizona, and others from Samsung’s Korean foundries. But that won’t be enough, he said.

“We’re going to need to build a massive chip factory,” Musk told shareholders, casually floating the idea like it was just another bullet point on a slide. Then, almost offhandedly, he tossed out another possibility: “maybe do something with Intel.”

Elon Musk just dropped a production date for Tesla’s long-awaited fully autonomous vehicle, and it’s a bold one. “We’ve got the first car that is specifically built for unsupervised, full self-driving,” Musk said. “It’s called a Cybercab. It doesn’t even have pedals or a steering wheel.”

The vehicle, which Musk first revealed last October, is being built for one purpose: maximum autonomy at the lowest possible cost per mile.

According to Musk, production will kick off in April next year, and it’s all happening right there inside Tesla’s Austin Gigafactory, where tonight’s shareholder meeting is being held.

A limited version of the Cybercab quietly launched in June, but only with invite-only riders and human safety monitors onboard. This time, Musk says, it’s going fully hands-off.

One of the more controversial shareholder proposals, to elect all Tesla directors annually, has officially passed. But there’s a catch: it’s advisory only. That means Tesla’s board isn’t required to do anything about it.

The company made that clear during the meeting, noting that while the proposal got enough votes, it doesn’t trigger any binding change. In its proxy statement, Tesla said, “the Board values the opinions of our shareholders and will consider [them]… including what, if any, actions may be appropriate.”

In short: thanks for the suggestion – we’ll think about it.

The Elon show is in full swing, and now he’s gone full sci-fi financier. Wrapping up his pitch for Tesla’s humanoid robot, Musk declared Optimus an “infinite money loop”, suggesting it could generate endless economic value for the company.

He even floated the idea that in the future, money itself might not exist, not because of collapse, but because robots like Optimus would produce so much value that traditional currency could become obsolete.

Then came the closer:
“I guess what I’m saying is hang on to your Tesla stock,” Musk said with a smirk.

With the shareholder drama settled, Tesla stock is ripping higher, and so is its valuation. After rebounding from a rough start to the year, Tesla is now trading at its highest forward price-to-earnings ratio in seven years, according to new data from LSEG.

Shares are at $447, pricing Tesla at a jaw-dropping 230x forward earnings. That’s not even expensive, it’s simply astronomical, and it only makes sense if you believe Tesla’s profits are going to explode in the future.

A big chunk of that optimism comes from robotaxis and humanoid robots, the ultra-ambitious moonshots Musk has promised will reshape Tesla’s business model.

Investors are betting those bets pay off big, especially as traditional EV sales growth slows and Chinese automakers ramp up the pressure.

Elon Musk is now deep in the vision part of his speech, and he’s placing Tesla’s entire future on the shoulders of its humanoid robot, Optimus. He called it the company’s true breakthrough, bigger than cars, energy, or even self‑driving software.

Musk says Optimus will deliver medical care with superhuman precision, claiming it will “be better than the best human surgeon,” capable of performing procedures no person could replicate. He also said Optimus could literally reshape society:

“Optimus will actually eliminate poverty,” Musk told the room.
“Optimus will actually give people incredible medical care.”

And then came the line that instantly lit up the livestream chat:
“It’s gonna follow you around and stop you from doing crime.”

This is Musk’s argument for why Tesla must keep him, only he, in his view, can pull off a world where robot surgeons, robot home companions, and robot police officers are normal.

The final shareholder results are in, and Elon Musk just scored a clean sweep.

Voters approved every major board-backed proposal, including the funding of Musk’s $1 trillion 2018 pay plan, the 2024 executive compensation package, and even a controversial motion to let Tesla invest in Musk’s AI startup, xAI.

That last one passed despite a large number of abstentions, hinting at unease behind the scenes.

But not everything made it through. Shareholders rejected efforts to link executive bonuses to sustainability and human capital goals, shooting down calls to tie pay to ESG performance.

They also voted against repealing the 3% ownership rule for filing derivative lawsuits, a decision that keeps legal power in the hands of major investors.

One more failed item: a proposal to require shareholder approval for bylaw changes under Texas law. It was aimed at tightening corporate governance, but investors said no.

James McRitchie, a veteran activist shareholder, just dropped a bombshell message during the proposal segment.

In a pre-recorded video, McRitchie urged shareholders to approve his motion to elect every Tesla director annually, instead of the current staggered terms.

His core argument? Elon Musk’s grip on the company is too tight, and too risky.

“Tesla’s Musk premium, once a source of strength, is fading along with his global reputation,” McRitchie warned. “It’s the liquid piggy bank that fuels his other ventures.” He pointed out that Tesla is Musk’s only publicly traded company, which makes it the easiest place for him to extract capital.

He wasn’t subtle about the ultimatum either: “Either he stays long enough to keep using your capital elsewhere, or he moves on when the tap runs dry.”

With the meeting underway, shareholders are now voting live, both online and in person, and the room’s heating up with a flurry of individual proposals. While many votes were already cast ahead of time, this is the final chance for investors to make their voices count.

One proposal pushing for Tesla to invest in Elon’s AI startup, xAI, is stirring debate. Founded in 2023, xAI was built to go toe-to-toe with OpenAI and Google, but folding it into Tesla has raised conflict of interest concerns.

Another motion wants Tesla to tie executive bonuses to sustainability goals, not just financials. Meanwhile, the National Center for Public Policy Research is demanding a child labor audit, calling out potential exposure in Tesla’s EV battery supply chain, especially around cobalt mining.

New York State has also thrown in a proposal to amend Tesla’s bylaws, seeking to repeal the rule requiring 3% ownership to file derivative lawsuits, aimed at improving corporate accountability.

The livestream is on, and Robyn Denholm, Tesla’s chair, just took the stage to kick off the annual shareholder meeting in Austin. She opened with big energy and bigger ambition.

“I’m thrilled at how many of you made your voices heard this year,” Denholm told shareholders, calling Tesla’s mission “to create more value than any other company in history.” She said Tesla is now at a major inflection point, and pointed to last year’s wins, the rollout of the new Model Y, growth in the energy storage division, and new programs giving employees a slice of ownership.

Denholm didn’t dodge Tesla’s rough patches either. “These last several years have not been without their challenges,” she said. But she ended her remarks on an optimistic note: “The future is bright.”

And with that, the meeting is officially rolling. Vote results still to come.

The shareholder revolt is getting louder. Ross Gerber, longtime Musk supporter and CEO of Gerber Kawasaki Wealth, says he’s had enough.

His company, which manages $4 billion and holds at least $80 million in Tesla stock, voted no on the trillion-dollar payout. “I don’t think Elon’s taken any responsibility for the damage he’s done,” Gerber said Thursday.

For him, Tesla’s problem is the pivot. “We were solving the climate crisis. Now we’re chasing robotaxis and humanoid bots,” Gerber said. “I want my company back.”

He’s not the only heavyweight investor pushing back. Norway’s $1.6 trillion sovereign wealth fund, several union pension plans, and proxy giants like Glass Lewis and ISS are also against the deal.

And in a bizarre twist, even Pope Leo himself has joined the dissent. In an interview last month, the Pope blasted Elon’s pay as a symbol of runaway inequality.

This article is updated LIVE.

The wait is over. Tesla’s annual shareholder meeting has officially begun at the company’s Gigafactory in Austin, Texas. This is where the fate of Elon Musk’s $1 trillion payout will be sealed.

Anyone who held Tesla shares as of September 15, 2025, was eligible to vote. Investors had multiple ways to cast their ballot; online, by phone, QR code, or through a broker.

The deadline for most electronic and phone voting passed at 11:59 p.m. ET on November 5, but shareholders can still vote live at the meeting, either in-person or virtually.

Attendance is extremely limited. Only a handful of shareholders (picked by random draw) were allowed into the room. But the stakes are massive for everyone watching. This is where Elon Musk’s future at Tesla could change, or be cemented.

We’re live!

Tesla’s trillion-dollar proposal wasn’t cooked up overnight, it was quietly introduced last September, and it’s designed to lock Elon Musk in for the long haul.

The plan includes 12 tranches of shares that unlock only if Tesla hits wild financial and operational targets. But it’s not just about the money.

Elon wants more control, and this plan gives him exactly that. He already owns 13% of Tesla. If shareholders vote yes, his stake jumps to 25%, giving him far greater sway over the future of the company, and the “robot army” he keeps teasing.

“I don’t feel comfortable building that robot army if I don’t have at least a strong influence,” Elon told analysts recently.

But not everyone’s buying the pitch. A new study by the National Bureau of Economic Research said U.S. Tesla sales could’ve been 67% to 83% higher if not for Elon’s polarizing behavior.

Critics like Nell Minow, chair of ValueEdge Advisors, are calling him a “part-time CEO” and flat-out rejecting the deal.

This article is updated LIVE.

At any other company, shareholder meetings are dull. At Tesla, they’re a spectacle. And today’s meeting might be its wildest yet.

Investors are deciding whether to hand Elon Musk a jaw-dropping $1 trillion payday, tied to a moonshot vision of Tesla’s future. He’d earn 425 million shares, but only if he hits some insane goals, like driving Tesla’s market cap to $8.5 trillion and pushing annual EBITDA past $400 billion.

Right now, Tesla’s EBITDA is just $13 billion, as Cryptopolitan earlier reported. And that’s basically growth at a warp speed.

The clock’s ticking. The vote result lands in 8 hours and 35 minutes.

More coming soon.

This article is updated LIVE.