Summary by Moomoo AI
Tesla, Inc. has filed a definitive proxy statement with the U.S. Securities and Exchange Commission (SEC) regarding its 2024 annual meeting. The statement includes a ratification of CEO Elon Musk's 2018 compensation package, which has been a subject of debate due to its potential $56 billion value, a figure that has grown in proportion to the value created for shareholders. The package was initially valued at $2.3 billion in 2018, but Tesla's success has significantly increased its worth. Cathie Wood of ARK Invest defended Musk's alignment with shareholder interests, highlighting his commitment to not receiving any compensation unless specific milestones were met. Despite challenges such as production difficulties and competition, Tesla has achieved substantial growth, with revenues compounding at a 49% annual...Show More