Tesla shareholders approve Elon Musk's trillion-dollar pay package
Tesla shareholders have voted to approve a monumental compensation package for Elon Musk, potentially granting him stock valued at up to one trillion dollars if performance targets are achieved.
The decision was made during Tesla's annual shareholder meeting, with preliminary results showing about 75% of shareholders in favor of the proposal.
Tesla shareholders have overwhelmingly approved a pay package of extraordinary proportions for Elon Musk, passing the measure with 75% of the vote.
Conditions and performance targets
The compensation plan does not include a salary. Instead, Musk would receive Tesla stock worth approximately one trillion dollars only if the company fulfills specific goals within the next decade.
- Raise the company's market capitalization from around $1.5 trillion to more than $8.5 trillion.
- Meet other internal and strategic growth milestones set by the company.
Comparison with other tech giants
By comparison, Nvidia — currently the world’s most valuable company and a major player in the AI sector — has a market capitalization of roughly $4.83 trillion. Nvidia’s CEO earns about $50 million annually and owns 3.5% of the company.
Elon Musk's current wealth
Elon Musk remains one of the world’s richest individuals, with an estimated net worth of $460 billion, according to the Bloomberg Billionaires Index.