

News
Tesla shareholder that has made 11x on its investment votes against Musk pay package
It’s official: The California Public Employees’ Retirement System will vote against Tesla CEO’s $56 billion pay package on Thursday at the company’s annual shareholder meeting, despite making 11x on its investment.
CalPERS says it owned nearly 9.2 million shares of Tesla stock as of June 7, and will not support Musk’s pay package ratification for several reasons:
- The value is approximately $46 billion, accounting for the cost to exercise the options, which is larger than the last four years of Tesla’s aggregate net income of $33.8 billion (2020-2023).
- The award would be highly dilutive to existing shareowners and reduce their ownership proportion.
- While the award does have a five-year holding period, it is concentrated in a single individual.
- Compared with other high-performing companies over the same period, the Tesla option award is nearly 140 times the annual pay opportunity for other high-performing CEOs.
- The payout rewards short-term growth and not sustained profitability. Tesla’s value has fallen by more than half from its peak in 2021.
Its Global Equities Investment Director, Drew Hambly, also said:
“We do not think a payout based on short-term market exuberance is warranted without sustained performance. Additionally, this deal concentrates power in a single shareholder and was negotiated by board members whose independence from Tesla’s CEO is questionable. For these reasons, CalPERS could not support the deal in 2018 and remains opposed today.”
RELATED:
Florida Pension Board votes for Elon Musk’s 2018 CEO Performance Award
CalPERS has seen an 11x growth on its investment since 2018, but believes Musk’s pay package would be “excessive compared to executives at peer companies” and would impact shareholders. It also said the pay package isn’t tied to Tesla’s long-term profitability, as it has already been earned and does not incentivize Musk to perform better in the future.
Marcie Frost, CEO of CalPERS, also said:
“This exorbitant compensation package is at odds with CalPERS’ longstanding views on executive pay. The compensation is excessive when compared to executives at peer companies, highly dilutive to shareholders, and isn’t tied to the long-term profitability of Tesla…While we agree that Mr. Musk is entitled to be well compensated for his work, we also believe that a pay package should be commensurate to a company’s performance with reasonable salary caps. These features are absent in the deal as structured.”
Musk said recently that he was disappointed in CalPERS decision to vote against ratifying his pay package.
“CalPERS broke the deal. Shame on them, they have no honor.”
CalPERS is also doing something else, which is related to the decision in the pay package case. It said it filed an objection against the lawyers who represented the shareholder that first challenged Musk’s pay package, as their requested $5.6 billion in fees taken in the form of Tesla stock is “exorbitant and would dilute shareholders’ interest in Tesla.”
The Shareholder Meeting is scheduled for tomorrow.
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Lifestyle
Elon Musk seemingly confirms Cybertruck gift to 13-year-old cancer fighter
Diagnosed in 2018 with a rare form of brain and spine cancer with no cure, the teen has undergone 13 surgeries by the time he was 12.

Elon Musk has seemingly confirmed that he will be sending a Tesla Cybertruck to 13-year-old Devarjaye “DJ” Daniel, a 13-year-old Houston boy fighting brain cancer. The teen was recognized as an honorary Secret Service member by U.S. President Donald Trump during his address to Congress on Tuesday.
A Chance Meeting
The Tesla CEO’s Cybertruck pledge was mentioned during DJ’s short interview with CNN’s Kaitlan Collins. When Collins asked the 13-year-old what he told the Tesla CEO, DJ answered that he asked for a Cybertruck.
“I said, ‘can you do me a big favor, when you get back to Houston can you send us a Cybertruck down there?’” the cancer fighter stated.
Daniel noted that Musk responded positively to his request, which was highlighted by Collins in a post on X. Musk responded to the post with a heart emoji, suggesting that he really will be sending a Cybertruck to the 13-year-old cancer fighter.
Teen’s Cancer Battle Inspires
Diagnosed in 2018 with a rare form of brain and spine cancer with no cure, Daniel has undergone 13 surgeries by the time he was 12. During his speech, Trump highlighted the 13-year-old’s long battle with his disease.
“Joining us in the gallery tonight is a young man who truly loves our police. The doctors gave him five months at most to live. That was more than six years ago. Since that time, DJ and his dad have been on a quest to make his dream come true,” Trump stated.
Daniels officially received an honorary badge from U.S. Secret Service Director Sean Curran, to much applause during the event.
Surprisingly Partisan
While Daniels’ story has been inspiring, Trump’s focus on the 13-year-old cancer fighter has received its own fair share of criticism. MSNBC host Nicolle Wallace, while referencing Daniels’ love for law enforcement, noted that she is hoping the 13-year-old never has to defend the U.S. capitol against Trump supporters. “If he does, I hope he isn’t one of the six who loses his life to suicide,” Wallace stated.
Anti-Musk and Trump accounts on X have also thrown jokes at the cancer fighter’s honorary badge, with some dubbing the 13-year-old as a “DEI hire” that should be looked into by DOGE.
News
Arrest made after Tesla Salem site attacked with Molotov cocktails
The suspect faces a federal charge of illegally possessing an unregistered destructive device.

A 41-year-old Salem man was arrested Tuesday for allegedly throwing Molotov cocktails at a Tesla store on January 20. Court documents indicated that the man’s attack caused around $500,000 in damages.
The suspect faces a federal charge of illegally possessing an unregistered destructive device, which were described as Molotov cocktails. Seven vehicles were damaged and one was destroyed in the attack on the Tesla location.
Fires Erupt at Tesla Store
At 3:45 a.m. on January 20, Salem Police responded to reports of Molotov cocktails being thrown at the Tesla store. Officers found a fire on the sidewalk and another in a parked vehicle’s rear. An eyewitness noted that someone thew five or six objects during the incident, as noted in a report from the Statesman Journal.
Suspect Caught on Camera
Surveillance footage showed the man throwing a “Molotov Cocktail-style device” at a truck, which bounced off without igniting. He also aimed an AR-15-style rifle at a witness who was driving away. The suspect hurled a rock through the Salem Tesla store’s window as well.
A patrol car’s camera captured the suspect’s vehicle nearby, tying him to the scene. Surveillance video, fingerprints on glass bottles recovered at the scene, and a vehicle registered to the man led ultimately to his arrest.
Tesla Vandalism Trend
Tesla stores across the United States and abroad have been the target of vandalism incidents as of late, thanks in part to CEO Elon Musk’s increasing involvement in politics and his close work with U.S. President Donald Trump. Interestingly enough, previous reports have indicated that the Salem Tesla store was also the victim of an attack last month, when gunfire shattered widows at the location.
News
Tesla Model Y tops South Korea import sales in February 2025
The Tesla Model Y that performed well in South Korea last month was the Model Y classic, which is already being phased out.

The Tesla Model Y led South Korea’s imported car market in February 2025 with 2,038 units sold, as per data from the Korea Automobile Importers & Distributors Association (KAIDA).
Total imported passenger car registrations in South Korea climbed 24.4% to 21,199 units from 16,237 a year ago. Tesla ranked third at 2,222 units, behind BMW (6,274) and Mercedes-Benz (4,663).
Model Y Classic Still A Strong Seller
The Model Y that performed well in South Korea last month was the Model Y classic variant, which Tesla is already phasing out. Its strong sales highlight Tesla’s strong presence in South Korea, where BMW beat Mercedes-Benz for the top brand spot last month.
Following the Tesla Model Y classic in the country’s import segment was the Mercedes-Benz E-Class and the BMW 5 Series. Tesla’s overall 2,222 registrations for February trailed BMW and Mercedes-Benz, but they surpassed Lexus (1,337) and Volvo (1,046), as per a report from Viva100.
Import Fuel Mix
Hybrids led South Korea’s import registrations with 13,013 units (64.4%), followed by EVs at 3,757 (18.6%) and gasoline at 3,226 (16%). Diesel lagged at 203 units (1%). A look at these numbers suggests that the Tesla Model Y classic commanded the lion’s share of South Korea’s EV imports last month.
What the KAIDA Vice Chairman says
KAIDA Vice Chairman Jeong Yoon-yeong issued a comment about the results:
“In February, new registrations of imported passenger vehicles increased compared to the previous month due to the registration of electric vehicles following the confirmation of electric vehicle subsidies and the new car effect of some brands,” the KAIDA executive noted.
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