Musk Edges Closer To Trillionaire Status As Tesla Stakeholders Approve Record Pay Deal

Tesla stakeholders have approved a record-breaking $1trn compensation package for CEO Elon Musk that could make him the world’s first trillionaire and solidify his position as the most influential figure in the global electric vehicle and artificial intelligence industries.

The decision came during Tesla’s annual shareholder meeting on Thursday, where more than 75 per cent of votes cast supported the package. The vote excluded the roughly 15 per cent of Tesla shares already owned by Musk.

As the results were announced, the crowd erupted in cheers, with Musk thanking investors for their continued confidence.

Unlike most CEOs, Musk receives no salary. Instead, his earnings are tied to Tesla’s long-term performance. The newly approved plan grants him the right to acquire up to 423.7m additional Tesla shares over the next decade if the company meets a series of ambitious market and performance targets.

If Tesla achieves an $8.5trn market capitalisation (more than 460 percent above its current value) Musk could unlock the entire stock award, potentially worth about $1trn.

That would make his pay deal the largest in corporate history, eclipsing any compensation package ever granted to a business executive. Current estimation suggests that if the full payout materializes, Musk would effectively earn about $275m per day over ten years

The approval comes at a turbulent time for Tesla. The company has faced slowing sales, shrinking profits, and growing competition in the electric vehicle market. In addition, changes to U.S. government incentives for EV buyers threaten to reduce future revenue.

Still, Musk and Tesla’s leadership say the company’s future lies beyond cars. They envision a transformation from an automaker to a global robotics and artificial intelligence powerhouse.

Musk used much of his address to shareholders to discuss Tesla’s upcoming line of humanoid robots, known as Optimus, and a future fleet of fully autonomous “robotaxis.” He claimed these innovations could eventually surpass the company’s car business, calling robotics “the biggest product of all time.”

“I think it’s going to be bigger than cell phones, bigger than anything Every human on Earth is going to want their own personal R2-D2 or C-3PO,” Musk said.

According to him, Tesla’s robots could cost around $20,000 to produce, potentially making them as affordable as entry-level cars. He further suggested that advanced robotics and AI could end global poverty and redefine economic systems worldwide.

Musk the deal is about ensuring stability and influence, not personal gain.

“It’s not like I’m going to go spend the money, there needs to be enough voting control to give me strong influence, but not so much that I can’t be fired if I go insane,” he told investors last month.