Tesla shareholders have given the green light to an unprecedented $1 trillion compensation package for CEO Elon Musk. This monumental deal positions Musk to potentially become the world's first trillionaire, contingent upon achieving ambitious targets over the next decade.
The plan necessitates that Tesla reaches a staggering market capitalization of $8.5 trillion and delivers 20 million vehicles. If successful, Musk stands to significantly increase his ownership stake in Tesla, which could surpass 25%.
Despite facing criticism from various quarters, including major investors concerned about wealth concentration, the majority of shareholders supported the plan, viewing it as a catalyst for growth and innovation. This approval comes amidst a broader conversation about the growing divide between billionaires and advocates for social welfare.
Musk's current net worth is estimated at $473 billion, and the approved package could amplify his financial stature dramatically if he meets the outlined milestones. The deal also reflects Tesla's commitment to advancing its technological capabilities, particularly in artificial intelligence and robotics.
