Tesla CEO Elon Musk urged shareholders to approve his $1 trillion pay package, citing concerns over control of a potential “robot army.” Musk’s past pay package is embroiled in a lawsuit, but analysts expect his new package to be approved at the upcoming shareholder meeting on Nov 6.

During a recent earnings call, Musk discussed the challenges of bringing the Optimus robot to market, emphasizing Tesla’s qualifications for the task. He expressed the need for voting control to maintain influence but not to the point of being ousted. Musk also criticized proxy adviser firms for opposing his proposed pay package.

Musk currently holds a 13% stake in Tesla, with share sales funding his purchase of Twitter (now X) in 2022. Despite past legal challenges to Musk’s compensation, analysts anticipate widespread shareholder approval for his new $1 trillion pay package. The upcoming shareholder meeting on Nov 6 is seen as crucial for reaffirming Musk’s leadership at Tesla. 1. The stock market saw a significant increase today, with the Dow Jones Industrial Average rising by 250 points. This boost was attributed to positive earnings reports from major companies in various sectors.

2. A new study released by the CDC revealed that the flu vaccine was only 30% effective this season. Health officials are urging the public to continue getting vaccinated, as it still provides some protection against the virus.

3. Tesla announced plans to build a new Gigafactory in Texas, which will focus on producing the Cybertruck and Model Y. The factory is expected to create thousands of jobs in the area and boost the local economy.

Read more at Yahoo Finance: Elon Musk presses for $1 trillion pay plan because he needs to influence Tesla’s future ‘robot army’