Retail Tesla Investors Rage At Charles Schwab For Refusing To Back Musk's Pay Package
Tesla shareholders will vote Thursday on whether to approve Elon Musk's $1 trillion pay package, a 10-year performance plan tied to several milestones. Norway's $2.1 trillion sovereign wealth fund will vote "No" on the proposal. The package would only unlock if Musk lifts Tesla's market value from $1.4 trillion to $8.5 trillion, which hinges on the deployment of humanoid robots, autonomous vehicles, AI, and other advanced technologies expected to dominate the 2030s.
Our focus shifts to X, where Tesla investors who are Charles Schwab customers are staging a revolt against the brokerage house that is reportedly planning to vote "No."
A viral post, viewed more than 3 million times, by Tesla investor "Jason DeBolt" warned Schwab:
Here's why this is urgent: At least 6 of your ETF funds (around 7 million $TSLA shares) voted against Tesla's board, and my 240,000+ Tesla investor followers are asking why Schwab would oppose one of the most successful corporate boards in history. Many of my followers are Schwab clients holding more shares than me (45,000 or more).
As a custodian of ETF shares, your fiduciary duty is to vote in shareholders' best interests. For a board that has delivered extraordinary returns, voting against their recommendations doesn't align with retail investors, Tesla employees, or the leadership we invested to support.
If Schwab's proxy voting policies don't reflect shareholder interests, my followers and I will move our collective tens of millions in $TSLA shares (or possibly hundreds of millions) to a broker that does, via account transfer as soon as this week. I'm not making empty threats – I am ready to move my shares now. The Tesla investor community is engaged and ready to act as well.
Hey @CharlesSchwab – I need to speak with someone from Schwab Private Wealth Services this week. Please reach out via email, the mobile app message center, phone, or X DM.
Here’s why this is urgent: At least 6 of your ETF funds (around 7 million $TSLA shares) voted against… https://t.co/uSgPWnfTFc
— Jason DeBolt ⚡️ (@jasondebolt) November 3, 2025
"I can't in good conscience stay with a brokerage that votes against this CEO Performance Award plan that is in my view clearly in shareholders' best interests. I join @jasondebolt in saying that voting against the recommendations of a board that has delivered extraordinary returns is out of step with retail investors, Tesla employees, and the leadership we invested in to support," Tesla investor Sawyer Merritt wrote on X. The post was hearted by Musk.
❤️
— Elon Musk (@elonmusk) November 4, 2025
Retail investors rage at Schwab:
Schwab is now finding out.
Won’t be long after this. https://t.co/6vLVLBUE3A pic.twitter.com/3COUedsyjL
— Kevin Chau (@kchau) November 4, 2025
If you hold ETF's in State Street & Schwab that hold $TSLA & care about Tesla, please do this ASAP.@TeslaBoomerMama breaks it down perfectly here. pic.twitter.com/fcv9xm1dSQ
— Pejjy (@CuriousPejjy) June 13, 2025
Just got off the phone with one of their agents. They are aware we’re pissed and are feeling the pressure. They don’t have any answers as of yet.
They just lost ~$1.5M to @RobinhoodApp.
Side note: The rep was very understanding and empathetic. He told me that he’s already…
— Alexander (@Alexander_Ilios) November 4, 2025
I have well over $1 million under management at Schwab.
I’m calling the number and will let them know how I feel.
You should too.
— Keith Dorschner (@keith_dorschner) November 4, 2025
On the phone with them rn. Im a few answers away from switching to @RobinhoodApp. pic.twitter.com/8IOC2rukUm
— Alexander (@Alexander_Ilios) November 4, 2025
Charles Schwab has rated Tesla “Strongly Underperformed” for years while rating Toyota motors a buy. This is why you always do your own due diligence and make your own decisions. pic.twitter.com/djCy6YA6uU
— 30sectoMars (@VtsnowMars) November 4, 2025
FAFO Charles Schwab.
Tyler Durden
Tue, 11/04/2025 – 11:40