Tesla shareholders have approved an unprecedented compensation plan that could make CEO Elon Musk the world’s first trillionaire
At Tesla’s annual shareholder meeting held Thursday, more than 75% of voting shares were cast in favor of Musk’s massive pay package that would solidify his status not just as the world’s richest person, but potentially the wealthiest individual in modern history.
The vote notably excluded the 15% stake that Musk already owns in the company.
The package, structured entirely as stock-based compensation, would grant Musk up to 423.7 million Tesla shares over the next decade.
He currently takes no salary from Tesla, meaning this grant represents the entirety of his potential earnings from the company.
What It Takes to Hit $1 Trillion
The approved plan is performance-based, requiring Tesla to meet a series of operational and financial milestones. These include achieving specific revenue, profit, and market capitalization targets.
For Musk to unlock the full value of his pay package, Tesla’s market capitalization must reach $8.5 trillion — a staggering figure for the electric carmaker’s valuation.
If achieved, Musk’s shares could be worth as much as $1 trillion, distributed in 12 equal tranches over 10 years.
Musk’s Expanding Empire
Elon Musk’s current net worth is estimated at $473 billion, according to Forbes. Much of that fortune comes from his Tesla holdings, alongside his stakes in SpaceX.
If Tesla’s valuation continues its upward trajectory, Musk could easily cross the trillion-dollar threshold before 2035.
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