Elon Musk’s $1 Trillion Pay Plan & Commerce Sec. Howard Lutnick 9/5/25

Tesla is asking investors to approve another outsized pay plan for CEO Elon Musk of nearly $1 trillion. Tesla Chairwoman Robyn Denholm says the plan was designed to keep Musk “motivated and focused on delivering for the company.” Then, Commerce Secretary Howard Lutnick discusses the U.S. decision to lower tariffs on Japan, President Trump’s broader tariff agenda and the state of the economy where August’s payroll numbers came in significantly below expectations. Plus, CNBC’s Eamon Javers breaks down a ProPublica investigation into mortgages held by Trump cabinet members, and CNBC’s Angelica Peebles highlights the key takeaways from HHS Secretary Robert F. Kennedy Jr. 's Senate hearing.

Javers 3;42

Peebles 10:44

Denholm 20:27

Lutnick 33:35

In this episode:

Howard Lutnick, @howardlutnick

Angelica Peebles, @angelicapeebles

Eamon Javers, @eamonjavers

Becky Quick, @BeckyQuick

Andrew Ross Sorkin, @andrewrsorkin

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