Tesla and the trillion-dollar vote

Royal London Asset Management has voted against the CEO’s proposed award due to concerns over the governance process, shareholder dilution and the scale of the award. It also voted against two of the three directors up for re-election and voted for several shareholder proposals. Markets are no strangers to bold headlines, but even by those standards, the proposals at Tesla’s 2025 Annual General Meeting (AGM) were extraordinary. The new performance award for CEO, Elon Musk, which was approved by the majority of shareholders, could be worth up to $1 trillion (£760bn). The board’s position is...