October 28, 2025 – According to a report by CNBC today, Tesla’s Chairwoman Robyn Denholm has sent a letter to shareholders, urging them to back CEO Elon Musk’s “trillion-dollar compensation plan” at the company’s upcoming annual shareholder meeting.
In her letter, Denholm emphasized that Musk has been the driving force behind Tesla’s transformation from a mere carmaker into a tech powerhouse. Looking ahead, she said the company will shift its focus towards autonomous driving and its humanoid robot, Optimus.
“Without Elon Musk, Tesla could lose significant value. If he were to leave, the direction we’ve been striving for might no longer be recognized by the outside world,” Denholm wrote.
During an interview with Squawk Box, Denholm further stressed that Tesla is at a critical juncture in its transition to AI. “The future opportunities for Tesla are immense, but all of this hinges on the unique AI capabilities we’ve built up. And Musk’s leadership is absolutely crucial,” she said.
However, Musk’s compensation plan has faced strong opposition in recent days. Proxy advisory firm ISS has recommended that shareholders vote against the proposal. Meanwhile, some corporate governance groups have launched a “Take Back Tesla” campaign, calling for the cancellation of Musk’s pay package. They argue that his recent actions have tarnished Tesla’s reputation.
Under Tesla’s board proposal, Musk would only be eligible for a 10-year, $878 billion stock award if he achieves groundbreaking advancements in areas like autonomous driving, robotics, and robotaxi services, while also significantly boosting Tesla’s stock price and profits.
