The Take Back Tesla campaign is urging shareholders to reject Elon Musk's $1 trillion pay package.
'No CEO Is Worth a Trillion-Dollar Pay Package': Unions Target Outrageous Elon Musk Tesla Deal
The world's richest man "has wiped billions off of Tesla's share value, trashed the company's reputation, and driven millions of its customers away," one campaigner said, urging shareholders to reject his pay plan.
A coalition of labor unions and progressive advocacy organizations on Tuesday launched the "Take Back Tesla" campaign, urging shareholders of the electric vehicle giant to reject a pay package that could make CEO Elon Musk the world's first trillionaire.
Musk is already the richest person on the planet, with an estimated net worth of $458-485.9 billion as of Wednesday. His previous 10-year proposal, worth $56 billion, was invalidated by a judge. He's now on an interim plan that has not been approved by shareholders, who are set to vote on the $1 trillion package at the company's annual meeting next month.
Tesla's board unveiled the proposed $1 trillion plan—which would be the biggest corporate compensation package in history—last month. Musk would get the full amount if he boosted share value "eightfold over the next decade" and stayed at Tesla for at least that long. He would own 29% of the company, one of several in which he holds a leadership position.
Top unions, such as the American Federation of Teachers (AFT) and Communications Workers of America (CWA), joined groups including Americans for Financial Reform, Ekō, People's Action Institute, Public Citizen, and Stop the Money Pipeline for the new campaign against "Musk's money grab." As part of it, they launched the website TakeBackTesla.com.
"How shareholders vote on Musk's trillion-dollar pay package and other important Tesla ballot items will likely set the stage for similar attempts by other oligarchs to consolidate their own power."
Several coalition leaders pointed to Musk's recent efforts to get President Donald Trump elected and then help the Republican gut the federal government—which has been shut down for 22 days due to a congressional funding fight—via their so-called Department of Government Efficiency. The billionaire's DOGE activities provoked nationwide protests targeting Tesla.
"In the last 12 months, Elon Musk's attempts to destroy the American government have caused huge damage to the Tesla brand and contributed to a significant decline in the company's sales in multiple key markets," Stop the Money Pipeline's Alex Connon noted, urging shareholders to "reject this insane proposal."
AFT president Randi Weingarten said that "the Tesla board, instead of upholding basic governance standards, wants to green-light an outrageous $1 trillion pay package for a CEO who has spent most of the year engaged in childish political brawls, rather than working to create shareholder value."
"To reward this destructive behavior with an obscene salary is a slap in the face—not only to the federal workers he's fired, but to the retirees whose pensions are invested in Tesla stock," she declared.
Dubbing the proposal "Musk's corporate heist," CWA president Claude Cummings Jr. similarly stressed that "Elon Musk is enriching himself by stealing from the American worker—from our infrastructure dollars for rural broadband to workers' private data from the Department of Labor—and now he wants to steal $1 trillion from our pensions and retirement accounts."
Natalia Renta, Americans for Financial Reform's associate director of corporate governance and power, emphasized that the vote is bigger than Musk. She said that "how shareholders vote on Musk's trillion-dollar pay package and other important Tesla ballot items will likely set the stage for similar attempts by other oligarchs to consolidate their own power."
"This new website allows people to get their voices heard by sending letters to their state financial officer and mutual fund manager (if they have one)," Renta added. State treasurers of Connecticut, Nevada, and New Mexico have already joined mounting calls for shareholders to vote down Musk's compensation package.
Ekō executive director Emma Ruby-Sachs argued that "no CEO is worth a trillion-dollar pay package, but especially not Elon Musk, who has wiped billions off of Tesla's share value, trashed the company's reputation, and driven millions of its customers away. Tesla's shareholders need to show the judgment Musk so clearly lacks, and reject this pay deal."
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A coalition of labor unions and progressive advocacy organizations on Tuesday launched the "Take Back Tesla" campaign, urging shareholders of the electric vehicle giant to reject a pay package that could make CEO Elon Musk the world's first trillionaire.
Musk is already the richest person on the planet, with an estimated net worth of $458-485.9 billion as of Wednesday. His previous 10-year proposal, worth $56 billion, was invalidated by a judge. He's now on an interim plan that has not been approved by shareholders, who are set to vote on the $1 trillion package at the company's annual meeting next month.
Tesla's board unveiled the proposed $1 trillion plan—which would be the biggest corporate compensation package in history—last month. Musk would get the full amount if he boosted share value "eightfold over the next decade" and stayed at Tesla for at least that long. He would own 29% of the company, one of several in which he holds a leadership position.
Top unions, such as the American Federation of Teachers (AFT) and Communications Workers of America (CWA), joined groups including Americans for Financial Reform, Ekō, People's Action Institute, Public Citizen, and Stop the Money Pipeline for the new campaign against "Musk's money grab." As part of it, they launched the website TakeBackTesla.com.
"How shareholders vote on Musk's trillion-dollar pay package and other important Tesla ballot items will likely set the stage for similar attempts by other oligarchs to consolidate their own power."
Several coalition leaders pointed to Musk's recent efforts to get President Donald Trump elected and then help the Republican gut the federal government—which has been shut down for 22 days due to a congressional funding fight—via their so-called Department of Government Efficiency. The billionaire's DOGE activities provoked nationwide protests targeting Tesla.
"In the last 12 months, Elon Musk's attempts to destroy the American government have caused huge damage to the Tesla brand and contributed to a significant decline in the company's sales in multiple key markets," Stop the Money Pipeline's Alex Connon noted, urging shareholders to "reject this insane proposal."
AFT president Randi Weingarten said that "the Tesla board, instead of upholding basic governance standards, wants to green-light an outrageous $1 trillion pay package for a CEO who has spent most of the year engaged in childish political brawls, rather than working to create shareholder value."
"To reward this destructive behavior with an obscene salary is a slap in the face—not only to the federal workers he's fired, but to the retirees whose pensions are invested in Tesla stock," she declared.
Dubbing the proposal "Musk's corporate heist," CWA president Claude Cummings Jr. similarly stressed that "Elon Musk is enriching himself by stealing from the American worker—from our infrastructure dollars for rural broadband to workers' private data from the Department of Labor—and now he wants to steal $1 trillion from our pensions and retirement accounts."
Natalia Renta, Americans for Financial Reform's associate director of corporate governance and power, emphasized that the vote is bigger than Musk. She said that "how shareholders vote on Musk's trillion-dollar pay package and other important Tesla ballot items will likely set the stage for similar attempts by other oligarchs to consolidate their own power."
"This new website allows people to get their voices heard by sending letters to their state financial officer and mutual fund manager (if they have one)," Renta added. State treasurers of Connecticut, Nevada, and New Mexico have already joined mounting calls for shareholders to vote down Musk's compensation package.
Ekō executive director Emma Ruby-Sachs argued that "no CEO is worth a trillion-dollar pay package, but especially not Elon Musk, who has wiped billions off of Tesla's share value, trashed the company's reputation, and driven millions of its customers away. Tesla's shareholders need to show the judgment Musk so clearly lacks, and reject this pay deal."
- How US Taxpayers Helped Elon Musk Become the Richest Man on Earth ›
- To Combat 'Illegal Coup' by Elon Musk, Tesla Showroom Protests Planned Worldwide ›
- Trump Stages Tesla Car Show at White House After Berating Americans for Boycotting Musk ›
- Elon Musk's Net Worth Surges by Over $16 Billion After Trump Win ›
- 'This Is OIigarchy': While Job Market Sinks, Musk Aims to Become First Trillionaire ›
- As Americans Live Paycheck to Paycheck, Tesla Shareholders Approve Musk's $1 Trillion Package | Common Dreams ›
- Opinion | Congress: Protect Working People's Retirement From Risky Tech Cos Like SpaceX | Common Dreams ›
A coalition of labor unions and progressive advocacy organizations on Tuesday launched the "Take Back Tesla" campaign, urging shareholders of the electric vehicle giant to reject a pay package that could make CEO Elon Musk the world's first trillionaire.
Musk is already the richest person on the planet, with an estimated net worth of $458-485.9 billion as of Wednesday. His previous 10-year proposal, worth $56 billion, was invalidated by a judge. He's now on an interim plan that has not been approved by shareholders, who are set to vote on the $1 trillion package at the company's annual meeting next month.
Tesla's board unveiled the proposed $1 trillion plan—which would be the biggest corporate compensation package in history—last month. Musk would get the full amount if he boosted share value "eightfold over the next decade" and stayed at Tesla for at least that long. He would own 29% of the company, one of several in which he holds a leadership position.
Top unions, such as the American Federation of Teachers (AFT) and Communications Workers of America (CWA), joined groups including Americans for Financial Reform, Ekō, People's Action Institute, Public Citizen, and Stop the Money Pipeline for the new campaign against "Musk's money grab." As part of it, they launched the website TakeBackTesla.com.
"How shareholders vote on Musk's trillion-dollar pay package and other important Tesla ballot items will likely set the stage for similar attempts by other oligarchs to consolidate their own power."
Several coalition leaders pointed to Musk's recent efforts to get President Donald Trump elected and then help the Republican gut the federal government—which has been shut down for 22 days due to a congressional funding fight—via their so-called Department of Government Efficiency. The billionaire's DOGE activities provoked nationwide protests targeting Tesla.
"In the last 12 months, Elon Musk's attempts to destroy the American government have caused huge damage to the Tesla brand and contributed to a significant decline in the company's sales in multiple key markets," Stop the Money Pipeline's Alex Connon noted, urging shareholders to "reject this insane proposal."
AFT president Randi Weingarten said that "the Tesla board, instead of upholding basic governance standards, wants to green-light an outrageous $1 trillion pay package for a CEO who has spent most of the year engaged in childish political brawls, rather than working to create shareholder value."
"To reward this destructive behavior with an obscene salary is a slap in the face—not only to the federal workers he's fired, but to the retirees whose pensions are invested in Tesla stock," she declared.
Dubbing the proposal "Musk's corporate heist," CWA president Claude Cummings Jr. similarly stressed that "Elon Musk is enriching himself by stealing from the American worker—from our infrastructure dollars for rural broadband to workers' private data from the Department of Labor—and now he wants to steal $1 trillion from our pensions and retirement accounts."
Natalia Renta, Americans for Financial Reform's associate director of corporate governance and power, emphasized that the vote is bigger than Musk. She said that "how shareholders vote on Musk's trillion-dollar pay package and other important Tesla ballot items will likely set the stage for similar attempts by other oligarchs to consolidate their own power."
"This new website allows people to get their voices heard by sending letters to their state financial officer and mutual fund manager (if they have one)," Renta added. State treasurers of Connecticut, Nevada, and New Mexico have already joined mounting calls for shareholders to vote down Musk's compensation package.
Ekō executive director Emma Ruby-Sachs argued that "no CEO is worth a trillion-dollar pay package, but especially not Elon Musk, who has wiped billions off of Tesla's share value, trashed the company's reputation, and driven millions of its customers away. Tesla's shareholders need to show the judgment Musk so clearly lacks, and reject this pay deal."
- How US Taxpayers Helped Elon Musk Become the Richest Man on Earth ›
- To Combat 'Illegal Coup' by Elon Musk, Tesla Showroom Protests Planned Worldwide ›
- Trump Stages Tesla Car Show at White House After Berating Americans for Boycotting Musk ›
- Elon Musk's Net Worth Surges by Over $16 Billion After Trump Win ›
- 'This Is OIigarchy': While Job Market Sinks, Musk Aims to Become First Trillionaire ›
- As Americans Live Paycheck to Paycheck, Tesla Shareholders Approve Musk's $1 Trillion Package | Common Dreams ›
- Opinion | Congress: Protect Working People's Retirement From Risky Tech Cos Like SpaceX | Common Dreams ›