Future Fund LLC's managing director, Gary Black, predicts a majority of shareholders will approve Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk's trillion-dollar pay package during November's shareholder meeting.
Check out the current price of TSLA here.
An ‘Overwhelming Approval'
"I expect a bullish @elonmusk on Wednesday's $TSLA earnings call in front of the Annual Meeting vote," the investor said in a post on the social media platform X on Tuesday. He added that he expected an "overwhelming (70-75%) approval" for the compensation package at the meeting.
Amid ISS Opposition, Ross Gerber Calls Pay Package Insanity
The comments come as the International Shareholder Services, a leading proxy advisory firm specializing in providing shareholders with advice on votes for company decisions, opposed Musk's CEO compensation award.
However, the package was defended by ARK Invest's CEO Cathie Wood, who called the advisor's index-based investing recommendations a "form of socialism." She also said that the package would receive approval from the Board.
Meanwhile, Ross Gerber, co-founder of investment firm Gerber Kawasaki, has called the pay package "insanity" and questioned the Tesla Board of Directors' independence from Musk's influence.
Tesla scores well on Momentum, Quality and Growth metrics, but offers poor Value. Tesla also offers a favorable price trend in the Short, Medium and Long term. For more such insights, sign up for Benzinga Edge Stock Rankings today!
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