In a dramatic conclusion to Tesla’s earnings call, Elon Musk warned that the company’s future depends on the outcome of the November 6 compensation vote on his trillion-dollar pay package. The stark warning came as shareholders prepare to cast decisive votes at the annual meeting in Austin.
Tesla’s quarterly financial discussion had covered the company’s technological progress in artificial intelligence, robotaxi services, and humanoid robotics before Musk’s intervention. His decision to issue a warning about Tesla’s future demonstrated his belief that the compensation issue has implications far beyond personal financial interests.
Musk explained his need for adequate voting influence to maintain strategic control over Tesla while remaining accountable to investors. He presented the issue as fundamental to protecting the company’s ambitious projects in robotics and AI from what he characterized as misguided interference by external advisors.
ISS and Glass Lewis became the final targets of Musk’s criticism, with the CEO accusing them of lacking competence regarding Tesla’s business model and strategic vision. His passionate language included specific references to the discomfort of building advanced robotics while facing potential removal based on their recommendations.
The earnings call concluded with CFO Vaibhav Taneja defending the compensation arrangement’s shareholder alignment. Taneja emphasized that the board committee structured the package to ensure Musk receives nothing unless investors achieve substantial returns, making multiple final appeals for favorable votes from Tesla’s shareholder base before the call ended.