Tesla shareholders approved CEO Elon Musk’s historic pay package on Nov. 6, potentially making him the world’s first trillionaire if all performance targets are met.
On Thursday, the results of the executive pay vote were announced during the technology company’s annual general meeting at the Tesla Gigafactory in Austin, Texas. With more than 75 percent of the vote, the measure was approved by the shareholders.
The 2025 CEO Performance Award grants Musk up to 423.7 million shares over the next decade. The compensation is tied to ambitious operational and market capitalization milestones.
The full value of the plan is estimated at nearly $1 trillion, contingent on Tesla reaching a market capitalization of $8.5 trillion by 2035. The company is currently valued at about $1.5 trillion based on the total value of the company’s outstanding shares….