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The Indicator from Planet Money

Can shareholders influence Elon Musk's trillion dollar pay package?

9 min10 september 2025
Tesla’s board of directors recently proposed  a pay package for CEO Elon Musk that could pay him about a trillion dollars if he meets certain goals. It’s not a done deal yet—Tesla shareholders will vote on the proposal at the company’s annual meeting in November. But just how much of a say do shareholders actually have in that decision? Or any decision?


Today on the show, we look at what it takes for a shareholder to get their voice heard and how this may be changing under the Trump administration. Plus we talk to one Tesla investor agitating for changes at the company.


Related episodes: 
An epic proxy battle comes to Hasbro
Elon Musk and the fear of the activist investor
Impact investing, part 1: Money, meet morals
Impact investing, part 2: Can money meet morals?


For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

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