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Tesla shareholders approve $1 trillion CEO compensation package
Tesla’s CEO compensation plan worth $1 trillion approved; quarterly revenue grew 18% YoY to $39.
Tesla shareholders approved a $1 trillion compensation plan for CEO Elon Musk, with 75% of voting shares in favor. The approval coincided with announcements of strategic investments in Musk’s AI startup, xAI. Tesla’s quarterly revenue reached $39.7 billion, an 18% increase YoY, while net income rose to $5.4 billion, up 22% from the prior year.
The company also reported strong vehicle deliveries and expansion in renewable energy initiatives, contributing to the revenue growth. Market response to the news was neutral, with shares trading slightly higher post-announcement.