Tesla’s earnings call, once focused on robotaxis and AI, was hijacked by CEO Elon Musk for a “fiery” personal appeal. At the tail end of the 75-minute call, Musk interrupted his CFO to plead for the ratification of his $1 trillion pay package.
This “classic Musk” performance comes as the world’s richest person faces a critical shareholder vote on Nov. 6 in Austin. His speech was a direct counter-attack against shareholder advisory firms that have opposed the massive compensation plan.
Musk blasted ISS and Glass Lewis, accusing them of making “asinine recommendations” and not understanding shareholder interests. He claimed the firms “have no freaking clue” and worried their advice could lead to his removal as he is “building a robot army.”
Musk argued the package was necessary to give him “a strong influence” via voting control, but he also added a crucial qualifier. He said he didn’t want so much power that he “can’t be fired if I go insane.”
The call concluded with CFO Vaibhav Taneja urging shareholders to vote in favor. Taneja defended the plan, stating the board structured it so Musk only profits after shareholders achieve “substantial returns.”