Tesla shareholders have approved a historic compensation package that could make CEO Elon Musk the world’s first trillionaire, according to reporting by CNN Brasil. More than 75% of votes cast during the company’s annual meeting on Thursday backed the plan, which grants Musk the right to receive up to 423.7 million additional Tesla shares over the next decade, a payout worth around $1 trillion if the company meets aggressive market and performance targets.
The vote excluded Musk’s existing 15% stake in Tesla. Cheers erupted at the shareholder meeting when results were announced, and Musk thanked investors and the company’s board for their support.
Under the plan, Musk will not receive a salary but could gain new tranches of stock as Tesla hits 12 progressively harder milestones linked to operational and financial performance. To unlock the full award, Tesla’s market capitalization would need to soar to $8.5 trillion, a 466% jump from its current valuation. That would put it far ahead of Nvidia, now the world’s most valuable company at $5 trillion.
If all shares are eventually vested, Musk’s theoretical earnings would equal roughly $275 million per day over ten years, making it the most lucrative executive pay package in corporate history.
A pivotal vote for Musk’s leadership
The approval follows speculation that Musk might step down as CEO if the package were rejected. Tesla’s board said Musk had hinted at leaving without assurances of control that the stock grants would provide. Despite the victory, the company faces a challenging year ahead, with falling sales and profits amid reduced U.S. subsidies for electric vehicles.
Still, Musk told shareholders he remains focused on Tesla’s future in artificial intelligence and robotics, not just electric cars. He claimed that the company’s upcoming humanoid robots and autonomous “robotaxis” could eclipse its auto business entirely.
“I think this will be the biggest product of all time — bigger than phones, bigger than anything,” Musk said, predicting that affordable Tesla robots, priced around $20,000 each, could one day “eliminate poverty” and transform the global economy.
Enormous promise, no guarantees
Despite Musk’s bold vision, the trillion-dollar payout is not guaranteed. Tesla must overcome its current operational struggles and deliver on Musk’s ambitious AI and robotics goals before he can claim the full compensation.
Musk has repeatedly said his motivation is control, not money. “It’s not like I’m going to spend it,” he told investors last month. “I just need enough voting power to maintain strong influence — but not so much that I couldn’t be fired if I went crazy.”
