Tesla Shareholders Approve Musk’s $1 Trillion Pay Plan (And FAA Cancels Thousands of Flights Amid Shutdown)
Tesla shareholders voted overwhelmingly to approve Elon Musk’s massive $1 trillion compensation package, which could boost his ownership stake to 25% if performance targets are met. Airline stocks tumbled as the FAA canceled thousands of flights due to staffing shortages tied to the ongoing government shutdown. Snap surged nearly 20% after beating revenue estimates and announcing a $400 million partnership with Perplexity AI, while Pinterest plunged over 20% after issuing weak guidance. Warner Bros. Discovery reported disappointing results and continues weighing a possible sale to Paramount Skydance. DoorDash fell 10% after missing profit forecasts despite strong order growth. Amazon raised prices more aggressively than Walmart and Target to offset tariffs, challenging its reputation as the low-cost leader. Target is overhauling its fulfillment strategy to improve the in-store experience, and Hooters’ original founders have reacquired the brand, pledging to modernize the menu and tone down its image.
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