In a historic move, approximately 75% of Tesla shareholders have voted in favour of a record-breaking compensation package for Elon Musk, potentially paving the way for him to become the world’s first trillionaire.
The decision came during Tesla’s annual shareholder meeting, where the company confirmed that the package was designed to ensure Musk’s long-term commitment to Tesla — at least for seven-and-a-half years, according to AFP.
The approval would boost Musk’s stake in Tesla from 12% to over 25%, cementing his control over the world’s leading electric vehicle manufacturer.
The Path to $1 Trillion
Under the newly approved pay structure, Musk could receive as much as $1 trillion in stock over the next decade — but only if he meets a series of 12 strict performance and market-cap milestones.
The first milestone would unlock when Tesla’s market value reaches $2 trillion, up from its current $1.5 trillion.
The compensation plan also includes product-related goals, such as the mass delivery of 20 million Tesla vehicles, advancing the company’s ambitious manufacturing and innovation targets.
If achieved, the package would make Musk not just the richest person in the world — a title he already holds according to Forbes’ real-time billionaire list — but the first individual ever to attain a trillion-dollar net worth.
Shareholder Confidence Despite Controversies
This isn’t the first time Tesla investors have shown their loyalty to Musk. Back in 2018, shareholders approved a $55.8 billion pay package, one of the largest in corporate history, despite years of legal challenges.
However, analysts believe this new vote carries greater weight, especially as Musk’s recent political commentary and polarising public image have reportedly impacted the Tesla brand’s reputation.
Still, the overwhelming approval demonstrates that investors continue to trust Musk’s vision for Tesla’s future.
In the same meeting, shareholders also re-elected three board members and voted in favour of annual board elections for improved accountability.
Musk’s Promises: Cybercab & Roadster
Following the vote, Musk addressed cheering shareholders with characteristic flair.
“I’d like to just give a heartfelt thanks to everyone who supported the shareholder votes. I super-appreciate it,” Musk said.
“What we are about to embark upon is not merely a new chapter of the future of Tesla, but a whole new book.”
Musk teased upcoming projects including:
- The Cybercab — Tesla’s much-awaited steering-less two-seater robotaxi, and
- The next-generation Roadster, an all-electric supercar set to redefine EV performance.
Describing the event’s energy, Musk joked,
“Other shareholder meetings are snoozefests, but ours are bangers. I mean, look at this — this is sick!”
