Americans for Financial Reform joined labor and progressive advocacy groups representing millions of workers in a letter to state financial officers who oversee pension funds that hold billions of dollars in shares of Tesla, urging them to oppose excessive pay packages for Tesla CEO Elon Musk, warning it would put workers’ retirement savings at unnecessary risk and undermine corporate accountability. The letter comes after the board bypassed shareholders altogether by awarding Musk a $29 billion “interim” pay package that would give him –– already the richest man in the world –– more money in a single year than the CEO of Google would make in 810 years.
August 22, 2025