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Tesla CEO Elon Musk wins back historic pay package

Tesla (TSLA) shares are rising after shareholders voted to approve CEO Elon Musk's pay package.

Yahoo Finance's Pras Subramanian reports more on the vote and what investors need to know from the shareholder meeting.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Melanie Riehl

Video transcript

Tesla shares are higher pre market.

I'm here to break down the results and the details of the vote and what we learned in the shareholder meeting.

We've got Yahoo finances, pros Subramania and pros my goodness, you know, it was Musk Appaloosa over there, right?

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I mean, this really cheering day, it seemed like they actually increased the volume and the res uh announced the results of the vote for his pay or the people cheering was los and loud and really kind of rocket.

So yeah, you know, uh big, big win for Musk and Tesla obviously, for him personally, he gets his pay packages.

I say he's very excited, very happy with the with the shareholder vote.

Uh but also that reds of the, of the of the company in Texas that also passed um Kimball Musk and James Murdoch, they also got approved there.

But I think the big picture stuff here is that this overhang of his compensation issue is now supposed uh is gone for now it's gonna be sold legally, sort of has to be worked through and what the appeals process.

But it seems like even after all this disclosure, uh after the, the lawsuit, the voters were informed of what this package entailed at this point and it seems like potentially a better case for Tesla and Musk.

Yeah.

And, and this is also, I think very much of this, of a similar type of playbook that we've seen from Elon before.

Right.

Yes, he does have this victory.

But then he's also dangling something out in the, in the distance here when we were talking about those laws expectations.

Now he's talking about the fact that he's confident that Tesla could actually reach 25 trillion here in market cap.

I mean, putting that into context, is this something that you think all those people in the audience, they are huge Elam believers.

Is that something that they actually think is realistic?

I I mean, put some of his lofty expectations and his dreams and hopes that we've heard over the years and how realistic those have actually come, whether or not they've actually come to.

Yeah, I mean, there's been two big things I talk he talked about were Robotaxis and sort of spilled a little bit of the beans on it saying that well, it's going to be a complete managed by Tesla and also your cars, personal people's cars that you can rent out in an airbnb like fashion with the app.

So talking about how that's the future that's happening, but at the same time, we're not seeing them doing these sort of tests that, that Waymo is doing that Cruz was doing with, with sort of geo fenced actual robo taxi pick ups.

We're not seeing that yet.

So that's the next step that I think the analysts want to see is are you guys gonna be testing this beyond just FSD on the streets with regular people?

Uh also optimist robots, right?

That's part of this 25 trillion or whatever plan he's talking about.

He thinks that he said last night, he thought he thinks that there'll be a robot for every person on earth.

So 10 billion robots, he's envisioning which should be trillions of dollars in market cap and business there for them.

But again, this robot, we've only seen it in very basic sort of uh uh ma uh sort of manual sort of uh descriptions here and what it's been doing.

So we haven't seen it actually in work kind of like in the factory or in someone's house.

So that's our big, big, big leap of faith that a lot of investors and, and from last night, they were very sort of uh just sort of enthusiastic about Musk and his and his remaining at Tesla Cross all the best to you as you start saving up for your Superman bot.