Musk’s $1T pay package is full of watered-down versions of his own broken promises

Tesla has proposed an unprecedented $1 trillion compensation package for CEO Elon Musk, tied to ambitious company milestones over a 10-year period. However, many of these targets are significantly scaled-back versions of Musk’s earlier promises. For example, Musk once claimed Tesla would produce 20 million electric vehicles annually by 2030, but the new goal is to deliver 20 million vehicles total by 2035—a much less aggressive target reflecting slowed sales growth and the cancellation of planned expansions like a Mexican factory. Similarly, the package includes a target of having one million robotaxis in commercial operation, a far cry from Musk’s 2019 claim that Tesla would have one million robotaxis on the road by 2020. The new goal allows for a “daily average aggregate” of one million robotaxis operating over three consecutive months, including customer-owned Teslas using Full Self-Driving software, despite Musk’s admission that many vehicles lack the hardware needed for full autonomy. While Tesla’s board frames the package as