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“Charles Schwab Will Now Vote For Musk’s CEO Performance Award,” Says Tesla Investor

by | Nov 4, 2025 | Top Ten


Update (1633ET):

Tesla investors unleashed what appears to be a successful pressure campaign against Charles Schwab on Tuesday. The day began with furious shareholders threatening a mass exodus from the brokerage, as social media posts about withdrawing funds raked in millions of views. The uproar centered around Schwab’s plan to vote “No” on Elon Musk’s multibillion-dollar Tesla pay package, and by late afternoon trading, according to at least one investor, the firm quietly reversed course. 

Tesla investor Sawyer Merritt wrote on X: 

I have just confirmed that @CharlesSchwab will be voting FOR Elon Musk’s 2025 CEO Performance Award plan. Schwab voted NO in both the 2018 and 2024 pay package votes. Schwab: “Schwab asset management intends to vote in favor of the 2025 CEO Performance award proposal. We firmly believe that supporting this proposal aligns with management and shareholder interest.”

Meritt noted:

Yes. I just got off the phone with multiple people at Schwab. They read me the full internal memo that corporate just put together. Any Schwab client can now call their advisor or representative and confirm my news above.

Another Tesla investor, Jason DeBolt, who was instrumental in the pressure campaign against Schwab, also confirmed that the brokerage has changed its mind.

Where is corporate media’s reporting? 

Musk chimed in earlier.

And will Tesla investors now focus their efforts on State Street? 

*   *   * 

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. 

“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.

Retail investors rage at Schwab: 

FAFO Charles Schwab. 

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