Elon Musk’s $1 Trillion Pay Package: Tesla shareholders have approved a record-breaking compensation plan that could see Musk earn up to $1 trillion (Rs 88,67,000 crore) in stock over the next decade, the largest corporate pay package ever granted.
At Tesla’s annual shareholder meeting in Austin, Texas, more than 75 per cent of investors voted in favour of the proposal, reaffirming their confidence in Musk’s leadership and his ambitious plans to turn Tesla into an AI and robotics powerhouse.
Strong Support Despite Investor Concerns
The approval came amid strong support from retail investors, even as some institutional investors criticised the plan as excessive.
Under the newly approved terms, Musk’s stock-based compensation could be worth $878 billion after required adjustments, depending on Tesla’s future performance and share price.
The payout is not immediate; it’s tied to a series of ambitious milestones that link Musk’s rewards directly to Tesla’s growth and market value.
What Elon Musk Will Have to Do?
To receive the full amount, Tesla’s market capitalisation must rise from $1.5 trillion to $8.5 trillion, alongside major operational achievements, including delivering 20 million vehicles, launching 1 million robotaxis, and selling 1 million humanoid robots.
Each milestone met would award Musk 1 per cent of Tesla’s stock, potentially giving him a 12 per cent stake if all goals are achieved.
Musk’s Vision for Tesla’s Next Chapter
“What we are about to embark upon is not merely a new chapter of the future of Tesla, but a whole new book,” Musk told cheering shareholders as he took the stage with dancing robots at the company’s factory.
He outlined plans to begin production of the “Cybercab,” Tesla’s self-driving robotaxi, and unveil the long-awaited next-generation Roadster sports car.
He also said Tesla would need to build a massive chip manufacturing facility for AI development and might consider a partnership with Intel.
Tesla’s stock closed lower on November 6, slipping 3.54 per cent to end the day at $445.91, down $16.35.
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