Elon Musk criticized proxy firms for advising against his $1 trillion compensation plan at Tesla’s earnings call. He urged investors to approve it, emphasizing the need for voting power without losing the ability to be fired.

Shareholders will vote on the proposal at Tesla’s annual meeting, facing criticism for its scale and potential dilution of shareholder value. ISS and Glass Lewis raised concerns about the size and structure of the award.

Despite record car deliveries, Tesla’s third-quarter earnings fell short due to increased tariffs and operating expenses. Operating income decreased by 40%, leading to a 5.7% drop in shares. Tesla’s stock has increased 9% this year, trailing the S&P 500’s 14% gain.

Elon Musk values control over Tesla’s direction more than monetary gain, with a current net worth of around $455 billion. His comments come amidst ongoing discussions about his $1 trillion compensation plan and its impact on the company’s future.

Read more at Nasdaq: Elon Musk Defends $1 Tln Pay Package As Tesla Profit Slumps