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Here are five key things investors need to know to start the trading day:
The richest man in the world is about to get a lot richer.
shareholders approved CEO Elon Musk’s nearly $1 trillion pay plan yesterday, with 75% voting in support of the proposal despite opposition from top proxy advisors. The pay package will grant Musk 12 tranches of shares if the company reaches certain milestones over the next decade. It also gives the CEO more voting power over Tesla, increasing his ownership from 13% to 25%.
One of those milestones is the delivery of 1 million Optimus humanoid robots, which Musk on Thursday said “will eliminate poverty” and be “bigger than cell phones, bigger than anything.” The robots are currently not available on the market, and Musk didn’t give a timeline for their development.
