The Financial Post reports in its Saturday, Nov. 8, edition that Elon Musk secured a significant victory in the shareholder vote for his $1-trillion (U.S.) pay package, gaining approval from 75 per cent of votes at Tesla's annual meeting. A Financial Times dispatch to the Post reports that if Mr. Muck meets all ambitious targets, he could increase his interest by 12 per cent and control a quarter of Tesla's shares. Despite governance concerns, shareholders supported Mr. Musk, whose leadership has helped elevate Tesla's market value to $1.4=trillion (U.S.), surpassing all other Western automakers combined. As the results were announced, Mr. Musk celebrated on stage at Tesla's Texas gigafactory to cheers from retail shareholders. Mr. Musk told the audience in more than an hour of extemporaneous remarks: "With AI and robotics, you can actually increase the global economy by a factor of 10 or 100. There's not like an obvious limit."
He outlined his vision of a future run by artificial intelligence and filled with self-driving vehicles and an "army" of Tesla robots that could perform surgery better than humans and "eliminate poverty." Mr. Muck said, "What I'm saying is, hang on to your Tesla stock."
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