- Tesla shareholders approved Elon Musk’s unprecedented pay package, potentially worth up to $1 trillion (€870 billion), with over 75% support at the company’s annual meeting in Austin, Texas.
- To earn the full payout over the next decade, Musk must increase Tesla’s market value from $1.5 trillion to $8.5 trillion. He must also meet a series of milestones: deliver 20 million vehicles, launch 1 million robotaxis, sell 1 million humanoid robots, and generate $400 billion in core profit.
- Despite the strong approval, major institutional investors such as Norway’s sovereign wealth fund, CalPERS, and proxy advisors Glass Lewis and ISS opposed the package, calling it excessive and risky for shareholders.
- Backers argued the plan was essential to keep Musk focused on Tesla as he expands its ambitions into AI and robotics, envisioning fleets of self-driving robotaxis and humanoid robots.
Tesla Shareholders Approve $1 Trillion Pay Package for Elon Musk
