The world’s richest person, Elon Musk, delivered an unscripted appeal during Tesla’s earnings call, warning that he needs adequate voting control to prevent being ousted while building the company’s “robot army.” The dramatic statement came as shareholders prepare to vote on his trillion-dollar compensation package on November 6.
Tesla’s quarterly earnings discussion had covered the company’s advances in autonomous vehicles, AI technology, and humanoid robotics before Musk’s unexpected intervention. The CEO interrupted the proceedings to address what he considers an existential threat to his leadership and Tesla’s ambitious technological roadmap.
Musk’s plea centered on achieving a delicate balance of power within Tesla’s governance structure. He advocated for sufficient voting influence to protect his strategic vision while maintaining enough accountability to ensure shareholders could remove him if his leadership became problematic.
The Tesla CEO singled out proxy advisory firms ISS and Glass Lewis for particularly sharp criticism, accusing them of issuing recommendations that disregard shareholder interests. Musk suggested these firms lack the technical understanding necessary to evaluate Tesla’s long-term strategy, particularly regarding advanced robotics and artificial intelligence initiatives.
In defense of the compensation proposal, CFO Vaibhav Taneja highlighted the performance-based structure that ties Musk’s earnings to shareholder returns. The board committee deliberately designed the package to ensure Musk receives compensation only when Tesla achieves significant milestones that benefit all investors. Taneja concluded with multiple appeals for shareholder support.