According to Sawyer Merritt, the five largest Tesla shareholders—Vanguard, BlackRock, State Street, Fidelity/Geode Capital, and JPMorgan Chase—played a significant role in last year's vote on Elon Musk's 2018 pay package, with all but State Street voting in favor (source: Sawyer Merritt on Twitter). This year's 2025 CEO Performance Award plan will allow both Elon and Kimbal Musk to vote, following Tesla's move to incorporate in Texas. These governance changes could impact Tesla's AI-driven business strategy, especially as shareholder alignment is critical for securing ongoing investment in AI innovation, autonomous vehicle development, and large-scale data infrastructure. The outcome may influence Tesla's ability to maintain its leadership in AI-powered mobility solutions and smart manufacturing platforms, presenting both risks and business opportunities for AI investors and industry partners.