Tesla CEO Elon Musk lashed out at major shareholder advisory firms on Wednesday, calling them “corporate terrorists” for recommending investors reject his proposed $1 trillion compensation plan. The remarks came during Tesla’s third-quarter earnings call, where Musk criticized Institutional Shareholder Services (ISS) and Glass Lewis for advising against the record-breaking pay award.
Musk accused the firms of “terrible recommendations” that could harm Tesla’s future, claiming their influence sways many large institutional shareholders. Both ISS and Glass Lewis cited “unmitigated concerns” about risk and excess in urging shareholders to oppose the proposal, which would raise Musk’s ownership stake to nearly 29% if performance goals are achieved.
The plan follows years of legal disputes over Musk’s earlier $56 billion pay package, which was blocked by a Delaware judge in 2024 for conflicts of interest and lack of shareholder transparency. Tesla shareholders reapproved it last year as appeals continue.
Tesla reported $28.09 billion in third-quarter revenue, surpassing forecasts, though earnings fell short. Shares dipped over 3% in after-hours trading following the call.
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