Tesla now spends ad money to influence shareholders approval of Elon Musk’s $55B payday
Tesla has now disclosed that it is spending money to promote its shareholders vote to approve of Elon Musk’s $55 billion compensation package.
Back in 2018, Tesla shareholders approved one of the biggest compensation plans of all-time: a $55 billion fully stock-based CEO compensation plan for Elon Musk.
In January, a judge sided with lawyers representing a Tesla shareholder alleging that Tesla’s board misrepresented the compensation package when presenting it to shareholders.
It’s a complicated issue, but in short, the judge found that Tesla’s board and Musk didn’t play by the rules of a public company when it presented the plan to shareholders.
The judge found that Tesla had governance issues when coming up with the compensation plan and those issues were not communicated to shareholders before voting on the plan.
Instead, Tesla claimed that the plan was negotiated by “independent board members” when it was found that some board directors had personal financial dealings with Musk outside of Tesla, amongst other things.
The Delaware court found that this invalidated the vote, and therefore, Tesla had to rescind the compensation plan.
Last month, Tesla told shareholders that it will ask them to vote on moving Tesla’s state of incorporation to Texas and then revote for Musk’s compensation plan without changing anything.
Since then, Tesla has been working hard to get shareholders to vote for those two items. It started a website to promote it, sent countless communications to shareholders about it, and now, the company’s board is going a step further.
In a new filing with the SEC, Tesla confirmed that it is now buying ad spaces to encourage shareholders to vote for these items:
Tesla has to file with the SEC all the “communications” it has with shareholders regarding the vote and this time, the communications are listed as “sponsored” on Google – meaning that Tesla bought Google ads for it.
The automaker even spent money on Elon Musk’s pockets by buying ads on X with the post listed as “promoted”.
Tesla shareholders have until June 13th to vote their shares.
Electrek’s Take
Tesla’s board is clearly getting nervous about the vote.
It’s pretty funny that Tesla’s board, which got Elon’s compensation package invalidated after a judge found governance issues, is now approving spending Tesla’s money on an Elon-owned platform to try to influence a vote that would send even more money into Elon’s pockets.
That’s where we are now.
FTC: We use income earning auto affiliate links. More.
Jeep’s first electric SUV in the US just got more affordable. On Thursday, Jeep launched a new Limited trim at the Chicago Auto Show. The new 2025 Jeep Wagoneer S Limited trim is $5,000 cheaper than the Launch Edition. And it also qualifies for the $7,500 federal EV tax credit. Here’s what the new model includes.
Jeep promised a new Wagoneer S trim would be available this month, and it delivered. The new Limited model, with a starting price of $66,995, “further enhances” the electric SUV’s attractiveness.
The new Limited trim joins the Launch Edition in Jeep’s 2025 Wagoneer S lineup. The Wagoneer S Limited model is $5,000 cheaper than the Launch Edition, which starts at $71,995.
Like the initial model, the new Wagoneer S Limited still offers plenty of features and exclusive design elements. It has a black roof and mirror caps, a dual-pane panoramic sunroof, 20″ aluminum wheels, and low-profile exterior badging.
Inside, the Limited trim maintains the “best-in-class” infotainment system from the Launch Edition, with 45″ of usable screen space. Buyers can choose from a new Hyrdo Blue exterior color and Arctic Grey interior design.
Other optional features include a segment-exlusive front passenger screen and a premium 920-watt McItosh sound system, The Propulsion Boost Package and Obsidian Appearance Package will be available later. The Propulsion upgrade is delivered over-the-air (OTA), providing up to 600 hp.
Jeep’s new model still includes its signature Selec-Terrain traction management system with five drive modes: Auto, Sport, Snow, Sand, and Eco.
With a 400V, 100 kWh battery pack, the Wagoneer S can charge from 20% to 80% in 23 minutes using a DC fast charger.
| 2025 Jeep Wagoneer S trim | Starting Price | Range |
| Jeep Wagoneer S Launch Edition | $71,995 | +300 miles |
| Jeep Wagoneer S Limited | $66,995 | +300 miles |
The 2025 Jeep Wagoneer S Limited is available to order now, starting at $66,995 (including a $1,795 destination fee). All Wagoneer S models qualify for the $7,500 EV tax credit.
Ready to test out Jeep’s new electric SUV for yourself? We can help you get started. You can use our link to find 2025 Jeep Wagoneer S models at a dealer near you today.
Embargo for Thurs Feb 6 12:01 AM ET
FTC: We use income earning auto affiliate links. More.
Nuclear energy is set for a “renaissance” that will be accelerated by backing from U.S. President Donald Trump’s administration.
That’s according to Yuri Khodjamirian, chief information officer at Tema ETFs, who noted that the Trump administration is “very, very interested in backing this technology.’ However, he also warned investors that developing this energy source is “going to take time.”
New nuclear technology approvals take “10 years to get done,” Khodjamirian said, but added that the nuclear re-emergence will likely be accelerated under the new Trump administration.
Speaking to CNBC’s Silvia Amaro on Tuesday’s “Squawk Box Europe,” Khodjamirian said his investment fund has its eyes on firms with a history of developing nuclear technology, such as U.S.-based BWX Technologies, which builds nuclear reactors for military carriers and submarines.
Khodjamirian said Tema is being “very selective in a new technology called small scale modular reactors.”
Small scale modular reactors (SMRs) are advanced nuclear reactors with the ability to provide around one-third of the generating capacity of traditional nuclear power reactors, according to the International Atomic Energy Agency.
SMRs take up less physical space compared to conventional reactors and produce a large amount of low-carbon electricity.
“There’s a lot of excitement there, and equally, a lot of loss-making companies that have unproven technologies, and we’re going for companies that have projects that are approved,” Khodjamirian said.
The nuclear energy renaissance is partly driven by a wave of people that are “realizing that it’s a stable, clean source of energy,” the chief investment officer said, adding that he believes that “there is a need for extra investment” in nuclear, alongside green energy sources that are variable in their electricity production.
“Renewables are good. They can be put up to speed quickly, but they require battery storage,” he said.
Trump has moved quickly on his energy agenda since his return to the White House. The U.S. Senate on Monday confirmed Chris Wright, a fracking executive and a Trump ally, as energy secretary.
Wright is a known nuclear energy supporter, having previously served on the board of advanced reactor company Oklo, as well as having held the position of chief executive at Liberty Energy. The energy firm has since appointed a new CEO following Wright’s confirmation as U.S. secretary of energy.
Digital borders
Khodjamirian is also closely monitoring artificial intelligence volatility, after the emergence of China’s Open AI model DeepSeek sparked concerns over how much money big tech companies will invest in AI.
European nations have voiced security concerns over DeepSeek.
Italy was the first country to block DeepSeek on data protection concerns. France‘s privacy watchdog has expressed concerns and South Korea’s industry ministry has temporarily restricted employee access to the Chinese startup’s AI model.
Taiwan, meanwhile, banned state departments from using the Beijing-based chatbot, wary of potential security threats from Beijing.
The international pushback shows that “no one really knows exactly how to defend digital borders,” according to Khodjamirian.
Global concern will “limit the growth of this model, because it’s coming out of China, but it’s clearly showing you that the West needs to be aware that there’s a lot of technical development,” he said.
“[But] I do think it redraws some of the lines, and it’ll be interesting to see how the U.S. in particular reacts,” he added.
Environment
Here’s our first look at Volkswagen’s cheapest EV, with prices starting at about $20,000
We are finally getting a look at Volkswagen’s answer to BYD and other low-cost Chinese electric cars. Volkswagen previewed its cheapest EV for the first time on Wednesday. It will kick off a new series of entry-level electric vehicles, with starting prices at €20,000, or just over $20,000.
Volkswagen teases its cheapest EV for the first time
At a meeting at its Wolfsburg plant on Wednesday, Volkswagen gave employees a sneak peek at the new model. The auto giant confirmed it will be a part of a new small electric car lineup.
Volkswagen said the new entry-level EV, with a base price of €20,000 ($20,000), “will be attractive for a wide variety” of buyers.
The first model in the new series will be the production version of the ID.2all, which was unveiled in March 2022. Volkswagen said the first ID.2 models will arrive at dealerships in 2026 with a base price of less than €25,000 ($26,000).
CEO Thomas Shafer said at the meeting, “With the conclusion of negotiations in December, we set the largest future plan in Volkswagen’s history in motion.”
The ID.2 and new entry-level EV (likely the ID.1) will be key to Volkswagen’s plans to catch up with EV leaders like BYD and Tesla.
Based on the MEB Entry Platform, the ID.2 is expected to have a range of up to 279 miles (450 km). Volkswagen also teased an SUV version, which will follow in its upcoming entry-level EV lineup.
Volkswagen will introduce the show car for its new entry-level EV. The company plans to reveal the production model in 2027.
Volkswagen is preparing its Wolfsburg plant for the upcoming entry-level models. Shafer stressed that the plant would “remain the heart of the Volkswagen brand in the electric age.” It will also produce the next-gen electric Golf on Volkswagen’s new SSP platform alongside the new T-Roc EV.
For those in the US, don’t get too excited. The new entry-level EV likely won’t make the trip overseas. Shafer described the model as ” an affordable, high-quality, and profitable electric Volkswagen from Europe for Europe.”
FTC: We use income earning auto affiliate links. More.
-
Sports2 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports10 months agoStory injured on diving stop, exits Red Sox game
-
Sports1 year agoGame 1 of WS least-watched in recorded history
-
Sports2 years agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Sports3 years ago
Team Europe easily wins 4th straight Laver Cup
-
Environment2 years agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Environment2 years agoGame-changing Lectric XPedition launched as affordable electric cargo bike
-
Business2 years agoBank of England’s extraordinary response to government policy is almost unthinkable | Ed Conway