Proxy advisory firm Institutional Shareholder Services (ISS) has advised Tesla investors to vote against a new $1 trillion pay package for Chief Executive Elon Musk and against Tesla making a potential investment in xAI, his AI startup.
The Wall Street Journal reports that in a report released on Friday, ISS expressed concerns about the magnitude and design of Elon Musk’s proposed “astronomical” stock award, despite the fact that Musk would only receive the payouts if he creates enormous value for Tesla shareholders. The proxy firm also recommended that shareholders vote against a nonbinding proposal asking Tesla’s board to invest in xAI…
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