Overview
- The Government Pension Fund Global, holding about 1.1% of Tesla, said it will vote no ahead of Thursday’s shareholder meeting in Austin.
- The proposed 10-year award could exceed roughly $1 trillion in value if ambitious performance milestones are achieved.
- Plan conditions reported by the press include Musk remaining chief executive for a decade, one million robotaxis in operation, and one million AI robots delivered.
- The fund acknowledged substantial value created under Musk’s leadership and said it will keep pursuing a constructive dialogue with Tesla.
- Proxy advisers and several large pension funds have urged a no vote, while Tesla chair Robyn Denholm warned Musk could exit leadership if the plan fails.