Elon Musk faced a critical question from shareholders when he demanded his salary: which is more important, Tesla or SpaceX?

The Tesla board plans to hold another shareholder vote to approve Elon Musk's hefty compensation package. However, opinions among Tesla's retail shareholders are divided, with many expressing frustration. Some question Musk's courage in demanding such high compensation when Tesla's performance is subpar and its competitiveness is declining.

Tesla proposes to hold a vote on Musk's compensation package at the company's shareholder meeting in June. This comes after a US district court invalidated Musk's $56 billion compensation package.

The Tesla board claims it will establish a special committee to evaluate Musk's compensation plan, with independent director Kathleen Wilson-Thompson overseeing the review. The board argues that reauthorizing Musk's compensation package is necessary to incentivize his leadership at Tesla.

However, this move has sparked controversy both inside and outside Tesla. Some legal experts suggest that shareholders may sue Musk and Tesla again over the new compensation plan, arguing that the independent directors may not be truly independent.

Internal shareholders are also hesitant about the vote. Leo Koguan, a Chinese-American businessman and Tesla's third-largest individual shareholder after Musk and Oracle co-founder Larry Ellison, has confirmed that he will vote against Musk's compensation package.

Koguan, who once considered himself a fan of Musk and heavily invested in Tesla, now expresses disappointment in Musk's governance of the company. He believes Tesla has turned into a family business disguised as a public company. As Tesla's largest retail shareholder, he has been unable to reach the Tesla board to express his concerns.

More retail shareholders are flooding Tesla's official Q&A channel, bombarding Musk with dozens of questions. One of the sharpest questions asks which is Musk's priority between Tesla and his other ventures.

Others inquire whether supporting Musk's compensation plan would lead to Musk refocusing on Tesla or refraining from making controversial statements elsewhere.

Another small investor with 8,200 shares wonders why the Tesla board believes Musk deserves to restore his $54 billion executive compensation despite declining delivery volumes, falling stock prices, increased competition in China, lack of innovation in artificial intelligence, and court rulings deeming the compensation excessive.

Retail shareholders who have suffered from Tesla's plummeting stock prices find it difficult to empathize with the board's assurances of "ensuring basic fairness and respect for the CEO." Many are eager to see positive news regarding Tesla's performance, making the upcoming release of Tesla's first-quarter financial report crucial.

Despite this, retail shareholders' influence in the June shareholder vote remains limited, with institutional investors being the deciding factor. However, the sentiments of small retail investors are threatening the Tesla board's plans, prompting the establishment of the Q&A channel to gauge public opinion.