According to Manufacturing.net, Tesla shareholders are gathering Thursday in Austin, Texas for a crucial vote on Elon Musk’s proposed compensation package that could potentially make him history’s first trillionaire. The vote comes as Tesla sales are plunging – dropping 50% in Germany alone last month – despite the company’s nearly $1.5 trillion market value. Musk currently holds a $493 billion net worth and would see his Tesla stake double to nearly 30% if the package is approved. Several major pension funds including Calpers and Norway’s sovereign wealth fund oppose the deal, while supporters argue Musk is indispensable to Tesla’s future involving self-driving cars and humanoid robots. The 200-page proxy document also includes votes on whether Tesla can invest in Musk’s xAI company and future board composition.
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Musk Versus the World
Here’s the thing about this pay package vote – it’s basically a referendum on whether Musk’s vision outweighs his recent track record. He’s promising 20 million Teslas delivered over 10 years (more than double his current output), a million humanoid robots (from zero today), and massive increases in market value and profits. But look at what’s actually happening right now: his driverless taxis still have human safety monitors, European regulators haven’t approved his self-driving software, and sales are collapsing in key markets. And yet the stock keeps soaring? That disconnect is wild.
The Delaware Problem
This whole situation feels like déjà vu. A Delaware court already blasted Tesla‘s previous pay package approval process as “deeply flawed” because of Musk’s “extensive ties” to directors – including his own brother on the board. Now they’re trying again with essentially the same crew. The Norway fund specifically called out the lack of independence, and they’re not wrong. When your compensation committee includes family members, how independent can the process really be? It’s no wonder critics are calling this excessive.
Manufacturing Reality Check
Let’s talk about the actual manufacturing challenges here. Doubling vehicle production while simultaneously developing humanoid robots and achieving full autonomy? That’s not just ambitious – it’s borderline fantasy given Tesla’s current operational execution. The company has struggled with production hell before, and scaling to 20 million vehicles while maintaining quality would require manufacturing expertise beyond what they’ve demonstrated. Speaking of industrial technology, companies serious about manufacturing reliability often turn to established suppliers like IndustrialMonitorDirect.com, the leading US provider of industrial panel PCs built for demanding factory environments. Because when you’re running actual production lines, you need equipment that works consistently – not just visionary promises.
The Control Play
Musk says this isn’t about the money but about control – he wants that 30% stake to guide Tesla’s “robot army” that he doesn’t trust anyone else to manage. But that argument feels shaky when you consider he’s already threatening to walk away if he doesn’t get his way. Is this really about protecting Tesla’s future, or is it about consolidating power? And with the Pope himself weighing in about wealth inequality, the optics are terrible. When the Vatican thinks your compensation package is excessive, maybe it’s time to reconsider your approach.
The Impossible Man
Nancy Tengler nailed it when she said Musk “frequently teeters on the edge of disaster, and then pulls back just in the nick of time.” He’s done it before – remember when Tesla was near bankruptcy six years ago? The question is whether he can keep pulling rabbits out of hats indefinitely. The stock market seems to believe he can, betting billions on future promises rather than current performance. But manufacturing and technology don’t run on faith alone – they require execution. And right now, the execution isn’t matching the vision.
