Tesla is also asking shareholders to vote on whether or not the company should invest in Musk’s xAI company.
The Tesla (TSLA) company shareholders will be voting on major upcoming proposals in the near future regarding investment in xAI and revised pay plan for its CEO, Elon Musk. The plan would award around $975 billion worth of Tesla shares to Musk, which would increase his voting power in the company’s ongoing decisions. As an aside, the proposal also asks shareholders if they want Tesla to invest in Musk’s xAI artificial intelligence company.
Tesla teased the vote for these proposals this week in a new financial filing, as reported by CNBC. Under the proposal, Elon Musk’s pay plan would be revised to accept the nearly $1 trillion sum over 12 distributions of shares awarded if Tesla hits certain company milestones over the next decade. It would amount to about 423 million additional shares for Musk, who already has 13 percent ownership of the company.
Source: Google
While the monetary value would obviously add to Musk’s status as the world’s wealthiest person, the pay plan would also add substantially to Musk’s voting power in the company as Tesla continues to invest deeply into autonomous driving and its cybertaxi plans, which Musk hopes will provide service to half of the United States by the end of this year.
With this proposal, shareholders will also be asked to vote on if the company will invest in xAI, Elon Musk’s artificial intelligence company. While it’s feasible xAI could be used to support Tesla’s own AI autonomous driving and other applications, it remains to be seen considering developing LLMs and Grok are currently xAI’s front-facing priority.
The vote for these proposals is set to take place at Tesla’s November 6, 2025 shareholder meeting. As we approach that date, stay tuned for further updates on the Tesla topic at Shacknews.