Topline
Tesla chief Elon Musk called two shareholder advisory firms opposing his proposed $1 trillion pay package “corporate terrorists” during an earnings call Wednesday, blasting the firms after one of them warned of “unmitigated concerns” revolving around the controversial pay proposal.
Musk made the comments during a Tesla earnings call Wednesday. (Photo by Harun Ozalp/Anadolu via Getty Images)
Anadolu via Getty Images
Key Facts
Musk made the comment near the end of Tesla’s third-quarter earnings call and said the recommendations from advisory firms Glass Lewis and Institutional Shareholder Services to vote against his pay package were “asinine.”
“Those guys are corporate terrorists,” Musk said of the firms, saying “many” of the “passive” index firms that have equity in Tesla align their votes with Glass Lewis and ISS recommendations.
Musk said the firms have “made many terrible recommendations in the past” that, if followed, would have been “extremely destructive” to Tesla’s future.
Glass Lewis and ISS previously recommended shareholders vote against Musk’s $56 billion pay package last year, which was approved by Tesla shareholders but is still being held up in court.
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Forbes Valuation
We estimate Musk’s net worth at $487.5 billion, making him the world’s wealthiest person, ahead of Oracle founder Larry Ellison ($331 billion) and Meta founder Mark Zuckerberg ($251.2 billion).
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