Tesla has published a video highlighting Elon Musk’s new CEO Performance Award, which is expected to take the company all the way to a market cap of $8.5 trillion. 

Musk’s pay package will be voted on by Tesla shareholders at the company’s upcoming annual meeting of stockholders this coming November 6.

Tesla’s proposal

In its post, Tesla noted that the company pays for outstanding performance, not promises. Tesla noted that Musk’s previous pay plan, which has been fully accomplished, was intended to deliver billions to TSLA shareholders. This time around, the company is looking to deliver trillions to stockholders.

“We pay for outstanding performance – not for promises. In 2018, shareholders approved a groundbreaking CEO Performance Award that delivered extraordinary value. At our Annual Meeting on November 6, Tesla shareholders can vote on a pay-for-performance plan designed to drive our next era of transformational growth and value creation. Seven years ago, Elon Musk had to deliver billions to shareholders – now it’s trillions.

“This plan creates a path for Elon to secure voting rights and will retain him as a leader of the company for many years to come. But as explained below, Elon only receives voting rights after he has delivered economic value to you. Your vote matters. Vote ‘FOR’ Proposal 4!” Tesla wrote in its post on X. 

Ambitious targets

The package calls for Elon Musk to grow Tesla’s market capitalization from its current $1.1 trillion to $8.5 trillion within the next decade. At that size, Tesla would surpass every other public company in history. For context, Nvidia, today’s most valuable company, is worth about $4.4 trillion, while Microsoft and Apple follow at $3.8 trillion and $3.7 trillion, respectively. Even Saudi Aramco, long among the world’s giants, holds a valuation of just $1.6 trillion.

To hit the $8.5 trillion target, Tesla must more than practically double Nvidia’s present value and expand nearly eightfold from its current scale. The plan also requires operating profit to soar from $17 billion in 2024 to $400 billion annually, while meeting ambitious product milestones: 20 million cumulative vehicle deliveries, 10 million active FSD subscriptions, 1 million Tesla Bots, and 1 million Robotaxis. 

If achieved, Musk’s stake in TSLA would rise to 25%, with compensation topping $900 billion in Tesla stock. In a post on X, Musk explained that his priority with is new compensation plan is not about gathering wealth, it was about securing influence. “If I can just get kicked out in the future by activist shareholder advisory firms who don’t even own Tesla shares themselves, I’m not comfortable with that future,” Musk wrote in a post on X.

Tesla’s Full Self-Driving (FSD) Supervised software has reached a major milestone in Australia and New Zealand. In less than two weeks since its public release, owners have collectively driven over 1 million kilometers with the advanced driver-assist system engaged. 

The achievement comes just days after a Model Y successfully covered 13,500 km of Australia’s roads using FSD Supervised.

Rapid adoption

The electric vehicle maker confirmed the FSD Supervised milestone in a post on its official Tesla Australia and New Zealand X account, noting that drivers are averaging about 80,000 kilometers per day with FSD Supervised active. To highlight the milestone, Tesla noted that the distance was equivalent to 67 laps around Australia or 625 trips from Auckland to Invercargill. 

“In less than 2 weeks, owners have travelled 1 million kilometres on FSD Supervised in AU & NZ. That’s roughly 67 laps around Australia or 625 trips from Auckland to Invercargill,” the electric vehicle maker wrote in its post. 

Australia has become one of the newest markets for FSD Supervised’s rollout, with public access opening on September 18. The country also stands as the first right hand drive market to receive Full Self Driving (Supervised).

Subscription service

The quick adoption of FSD in Australia highlights the enthusiasm of local owners, even as most of the regional Tesla fleet still uses older Hardware 3 systems that do not support FSD’s latest versions. Once updates roll out to HW3 vehicles, the adoption of FSD in Australia and New Zealand will likely see an even more notable rise, as noted in a report from techAU.

The milestone also arrives ahead of the official launch of Tesla’s FSD Supervised subscription program, priced at $149 per month in Australia and $159 in New Zealand, as noted in a report from The Driven. The subscription is expected to provide FSD access to drivers who opted not to purchase the system at its full price.

Waymo has provided some clarification on a video that has been spreading recently on social media. The video, as hilarious as it was, would likely have resulted in Tesla getting crucified if a Robotaxi running FSD had been involved instead.

As per Waymo, there is actually a pretty good reason why one of its self-driving cars ended up driving around a golf course.

The viral video and Waymo’s response

This weekend, a video emerged on social media showing a Waymo self-driving car driving around a golf course. Unlike other Waymos, this particular vehicle was operating on the grass itself, just a few meters away from people. Spectators could be heard laughing in the video as the Waymo slowly drove over the golf course.

Amidst speculations online, Waymo has stated that the vehicle in the viral video was actually operated by a human driver. In a post on social media platform X, Waymo’s official account clarified that the vehicle was not self-driving at the time the video was taken. “Hey there, this was a human-driven car, getting ready for an event at the Penmar Golf Course,” Waymo wrote in its X post.

Had a Tesla been involved…

The video caught a lot of attention among Tesla enthusiasts, with many stating that such a video involving a Robotaxi could have easily crucified the electric vehicle maker in the media. It is no secret that Tesla receives overwhelmingly negative media coverage, so even a small scratch on a Robotaxi or other minor incidents on the road tend to result in dramatic headlines. 

Had a Tesla running FSD been spotted operating on a golf course just meters away from people, calls for banning Robotaxis and headlines about the self-driving cars nearly killing golf players would have been abundant. The news would probably have been international as well, with dramatic media hosts allocating notable portions of their shows to the alleged dangers of Teslas and FSD, or why Elon Musk was directly responsible for the incident.

It’s an insane scenario, but anyone who’s followed the Tesla story for years would know it is feasible.