More than three-quarters of Tesla shareholders approved a massive compensation plan for Elon Musk, which could make him the world’s first dollar trillionaire. The decision was made during the company’s annual meeting, where over 75% of the votes supported the new compensation package, excluding the 15% of shares already owned by Musk.
This is reported by Finway
Compensation Terms and Tesla’s Growth Potential
According to the approved plan, Musk could receive up to 423.7 million Tesla shares over the next ten years. The main condition is achieving a company valuation of $8.5 trillion and meeting a series of financial metrics. This implies a potential daily income of around $275 million, making this package the largest in corporate history.
To reach such a market valuation, Tesla shares would need to rise by more than 460%. This would allow it to surpass even the current market leader—Nvidia.
Strategy and Vision for the Future
During his speech to shareholders, Elon Musk expressed gratitude for their trust and outlined Tesla’s strategic directions for development. He emphasized that he sees the company’s future not only in electric vehicle production but also in creating robotics and implementing artificial intelligence.
“I think this will be the greatest product of all time. Every person on Earth will want to have their own R2D2 or C3PO,” Musk said, hinting at Tesla’s humanoid robots.
Musk also stated that the robots being developed by the company could potentially replace surgeons in the future and help combat global poverty. Thus, Tesla’s strategy extends far beyond the automotive industry and encompasses innovative technological development directions.