Elon Musk gets his trillion dollar payday, keeps control of his “tens of billions” robot army
Tesla CEO Elon Musk seems destined to become the world’s first trillionaire after shareholders approved his controversial pay-deal with the company that could be worth $US1 trillion ($A1.5 trillion) in company stock.
Tesla has spent virtually nothing on marketing its EVs and big batteries over the past decade, but reportedly spent heaps promoting the Musk pay-package, amid threats that the world’s richest man would build his proposed “robot army” with another company if he did not get paid another trillion dollars.
In the lead-up to the shareholder vote, Musk launched extraordinary attacks against proxy advisors – calling them “corporate terrorists” – and others who opposed the pay package, insisting that it was necessary for him to keep control of the “tens of billions” of humanoid robots he wants to build.
“My fundamental concern with regard to how much voting control I have at Tesla is, if I go ahead and build this enormous robot army, can I just be ousted at some point in the future?” Musk said during Tesla’s third-quarter earnings call on October 22.
“If we build this robot army, do I have at least a strong influence over this robot army? Not control, but a strong influence … I don’t feel comfortable building that robot army unless I have a strong influence.”
Now, he has control, high ambitions, and a trillion dollar promise. On Thursday he suggested criminals could be released from prisons and supervised by his army of humanoid robots, which presents a thousand questions about what exactly Musk thinks they can and should do.
As Elektrek reports, Musk suggested giving convicted criminals a free humanoid robot because apparently they would follow them around and stop them from doing bad things.
“If somebody’s committed crime – a more humane form of containment of future crime …. you now get a free Optimus and it’s just gonna follow you around and stop you from doing crime.
“But other than that you get to do anything. It’s just gonna stop you from committing crime, that’s really it. You don’t have to put people in prisons and stuff, I think.”
Tesla remains much admired for the brilliance of its battery storage and electric vehicle technology. Its utility scale batteries are leading the world in reshaping the future of renewable grids, providing the much needed glue for a system based around wind and solar, and providing services not considered possible just a few years ago.
Its EVs are similarly admired, regarded by many as the best value for money (still), although they now face more intense competition from mostly Chinese rivals.
The company is now pushing the boundaries further with the introduction of supervised full self driving, with Musk suggesting on Thursday that owners will be able to text and drive at the same time – within months! – although he didn’t explain exactly how that would be legal.
But Musk has become a polarising figure, offending many of his original customer base with his backing of Donald Trump, his role in DOGE and the slashing of USAid, his promotion of far right parties in Germany, his demand that the UK government be sacked to prevent “civil war”, and his support for right wing thugs like Tommy Robinson.
In those key markets, support for Tesla EVs has cratered. EV sales in both Germany and the UK were down 50 per cent in October, compared to the same month a year ago, despite an overall increase in EV sales. Buyers are looking elsewhere.
But Musk retain an extremely dedicated and loyal following, a heady mixture of right wingers, “tech bros” and those who really hope they can make a fortune along with their CEO. And, if Musk gets his hand on that trillion dollars, they almost certainly will make a fortune too.
The pay package is dependent on Tesla delivering 20 million vehicles over the next 10 years, and having a million robotaxis operating on roads. The value of Tesla stock – currently worth more than $US1.5 trillion – would have to hit levels starting with $US2 trillion and rising to $US8.5 trillion
Little wonder, then, that shareholders present at the meeting started chanting “Elon”, as Musk danced on stage with his humanoid robots after the vote. “Thanks guys,” he said.
“Those are real robots,” Musk said. “This is going to be quite the story … the scale of Optimus is really something else, this is going to be the biggest product of all time. Every human on earth is going to want their (Optimus). Who wouldn’t?”
The future might not be what we think it is. But it might not be what Musk things it is either.
More informationLhttps://reneweconomy.com.au/elon-musk-gets-his-trillion-dollar-payday-keeps-control-of-his-tens-of-billions-robot-army/
