Elon Musk Battles Proxy Advisors Over Tesla Control and Compensation

Tesla’s earnings call concluded with Elon Musk battling proxy advisory firms over questions of company control and his trillion-dollar compensation package. The confrontational ending came days before shareholders cast decisive votes at the November 6 annual meeting in Austin.
The quarterly earnings presentation had covered Tesla’s technological progress in artificial intelligence, robotaxi services, and humanoid robotics before Musk’s dramatic takeover. His interruption of standard proceedings revealed his view that proxy advisors pose a fundamental threat to both his leadership and Tesla’s innovation agenda.
Musk articulated his position that meaningful voting control is essential for protecting Tesla’s strategic vision while accepting appropriate shareholder accountability. He presented the compensation issue as critical for continuing ambitious technology initiatives without facing removal based on recommendations from advisors he considers unqualified.
ISS and Glass Lewis became the primary targets of Musk’s criticism, with the CEO suggesting their recommendations demonstrate a lack of understanding about Tesla’s business model. His passionate denunciation included specific concerns about being ousted while developing advanced robotics based on advice he termed “asinine.”
The earnings call concluded with CFO Vaibhav Taneja defending the compensation arrangement’s alignment with investor interests. Taneja emphasized that the board committee structured the package to ensure Musk benefits only when shareholders achieve substantial returns, making multiple final appeals for favorable votes.