AUSTIN, Texas — A coalition of labor and community activists rallied outside the Texas State Capitol on Wednesday to condemn a proposed multi-billion-dollar compensation package for Tesla CEO Elon Musk. The demonstration occurred hours before shareholders are set to vote on the controversial measure.
Organized by groups including “Tesla Takedown,” protesters argued the potential “trillion-dollar” payout is excessive given company layoffs and internal pay disparities. The rally precedes Tesla’s high-stakes annual shareholder meeting on Thursday in Austin, where the vote on the 2018 stock options plan is the central agenda item.
Speakers at the protest emphasized wealth inequality, with one organizer stating, “This is not about business success; it’s about an obscene amount of wealth for one person while workers struggle.”
The opposition extends beyond local activists. Major investors, like Norway’s sovereign wealth fund, plan to vote against the package due to its size. A related “Inflatable Dance Party Protest” is planned outside the Tesla Gigafactory for Thursday.
The vote’s outcome will have significant ramifications for Musk’s future with the company and the Central Texas business landscape.
