One of Wall Street’s most vocal tech bulls says the outcome of an incoming shareholder vote on Elon Musk’s controversial pay package won’t be close.
In a new note to clients, Wedbush’s Dan Ives says Tesla is entering its most consequential phase since launch, with the company asking investors to approve a long‑term performance plan for CEO Elon Musk that could see the AI tycoon become $1 trillion richer.
The proposal arrives as Tesla races toward full autonomy, mass robotaxi deployment, and humanoid robotics, milestones Ives says are central to the company’s next chapter.
“This Thursday, Tesla will be hosting its annual shareholder meeting with all focus on the Musk pay package on deck. We expect Musk to get overwhelming shareholder approval on the potential $1 trillion pay package despite some opposition from various shareholders/ISS and send a loud and clear message to Elon being ‘wartime CEO’ during this most important chapter of growth in Tesla’s history as the AI Revolution is here.”
The $1 trillion Tesla stock package spans up to ten years, divided into twelve tranches that only vest if the electric vehicle maker’s market capitalization surges toward $8.6 trillion and operational objectives like delivering 20 million vehicles, achieving $400 billion in adjusted EBITDA, and deploying 1 million robotaxis and 1 million humanoid “Optimus” robots are met.
Ives also highlights the strategic value of Musk’s AI and robotics vision, saying Tesla must retain Musk to “lead Tesla through the most critical time in the company’s history.”
“We believe this was the smart move by the Board to lay out these incentives/pay package at this key time as the biggest asset for Tesla is Musk… and with the AI Revolution, this is a crucial time for Tesla ahead with autonomous and robotics front and center.”
Last month, Elon Musk said he needed more voting power to allow him to maintain authority over the production of Tesla’s “robot army.” He says without voting power, he could lose control of Tesla’s most powerful creation.
“My fundamental concern with regard to how much voting control I have in Tesla is, if I go ahead and build this enormous robot army, can I just be outset at some point in the future? That’s my biggest concern. That is really the only thing I’m trying to address with this so-called compensation.”
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