Tesla Shares Dip 4% Ahead of Pivotal Shareholder Meeting
Tesla Inc. shares slid more than 4% in early trading Thursday as investors braced for a high-stakes shareholder vote on Elon Musk's unprecedented $1 trillion compensation package. The electric-vehicle maker's stock has shown heightened volatility, swinging more than 4% on eight separate occasions over the past month.
The proposed pay deal ties Musk's full compensation to audacious milestones: 20 million vehicle deliveries, 10 million full self-driving subscriptions, 1 million Optimus robots deployed, and 1 million robotaxis in operation. Musk frames the package as essential to maintaining his 25% stake rather than personal enrichment.
Norway's $1.9 trillion sovereign wealth fund, Tesla's seventh-largest investor, announced opposition to the plan, citing concerns about dilution and key-person risk. "While we appreciate Musk's visionary leadership," the fund stated, "the award's sheer size warrants caution."
