October 28, 2025 — 6.22am Save AP In an open letter, she wrote: “If we fail to foster an environment that motivates Elon to achieve great things through an equitable pay-for-performance plan, we run the risk that he gives up his executive position, and Tesla may lose his time, talent and vision, which have been essential to delivering extraordinary shareholder returns. “Without Elon, Tesla could lose significant value, as our company may no longer be valued for what we aim to become.” Tesla last month unveiled a new pay award scheme that would hand its chief executive $US1 trillion if he succeeds in hitting a string of ambitious targets, including increasing the company’s valuation from $US1 trillion to $US8.5 trillion over the next decade. Other goals include selling one million AI robots and deploying one million self-driving robotaxis on the road by 2035. However, the proposed pay packet has been met with opposition from shareholder advisory groups Glass Lewis and ISS, which both urged investors to vote against it. Glass Lewis warned that the plans should “warrant significant concern” as they would dilute other shareholders’ stakes while potentially handing Musk a “materially increased ownership stake”. Advertisement The intervention triggered a furious response from Musk, who branded the advisory groups “corporate terrorists” who had “no freaking clue”. With a net fortune of just under $US500 billion, he is already the richest person in the world. Tesla has been battling a slowdown in sales in recent years as it battles competition from cut-price Chinese rivals, while the company has also been hit by a boycott over its chief executive’s support for Donald Trump. Some investors have also raised concerns that Musk has become too distracted by his other ventures, such as X and SpaceX. Robyn Denholm says the company is at “a critical inflection point”. Credit: