While almost every major company has shifted to virtual annual shareholder meetings in recent months amid the pandemic, Telsa insists it will hold its own gathering the old fashioned way, in a room filled with investors, Tesla executives and board members
But that won't do for Elon Musk, a vocal critic of Covid-19 safety measures.Musk went on an obscenity-laced rant against stay-at-home orders during a quarterly conference call with investors in April, calling such measures"fascist" and un-American. In May, he reopened Tesla's Fremont, California plant despite restrictions by county health officials, filing a federal lawsuit and threatening to move his company's headquarters out of state.
Most annual meetings are humdrum affairs where the company executives lay out their vision for the coming year, answer a few questions and occasionally apologize for recent problems or a depressed share price. Shareholders can offer resolutions, which are rarely approved.Tesla has a relatively high percentage of shares held by individual investors. Many are fans of the company and its vision of a world dominated by electric vehicles.
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