🚀 Musk $1T pay package approved

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Market Overview
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Year To Date Performances:

1. Tesla shareholders have approved CEO Elon Musk’s nearly $1 trillion pay package, with over 75% voting in favour at the company’s annual meeting in Austin. The plan, introduced in September and opposed by major proxy advisors, ties Musk’s compensation to ambitious milestones, including reaching a $2 trillion market cap and up to $400 billion in annual adjusted profit, along with goals such as 20 million vehicle deliveries and 1 million robotaxis. If fully realized, Musk’s ownership stake would rise from 13% to 25%, granting him more than 423 million new shares. The vote follows a Delaware court ruling that invalidated his 2018 pay plan, now under appeal, and comes amid concerns over Musk’s growing political involvement and Tesla’s reliance on his leadership as he juggles roles across multiple companies.

2. SoftBank Group shares plunged 8% on Friday, putting the Japanese conglomerate on track for more than $50 billion in weekly losses amid a sharp sell-off in AI-linked stocks. The decline follows renewed investor skepticism over lofty valuations in the artificial intelligence sector, with analysts noting that SoftBank has been seen as a public proxy for OpenAI. The sell-off also hit other Asian tech names like Arm Holdings, Advantest, and Renesas, as well as U.S. chipmakers including Nvidia, AMD, and Qualcomm, fueling concerns of a potential AI bubble reminiscent of the late 1990s dot-com era. While some investors warn of overvaluation, others argue that today’s AI spending—driven by cash-rich firms rather than speculative credit—suggests the risk is not a bubble bursting but rather investor fatigue with slow-to-materialize AI profits.

3. U.S. President Donald Trump said India has “largely stopped” buying Russian oil and hinted he may visit the country next year if invited by Prime Minister Narendra Modi, calling him a “friend” and a “great man.” The comments come as trade negotiations between Washington and New Delhi progress, with hopes of reducing tariffs on Indian exports from 50% to around 20%. Steep tariffs have strained relations between the two nations, U.S. visa fee hikes, and India’s continued purchases of Russian crude. However, recent sanctions on Russian oil giants have already prompted India and China to scale back imports. Experts caution, however, that India is unlikely to phase out Russian oil in the long term fully, given its focus on economic pragmatism and access to discounted crude.

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