Tesla shareholders approve Elon Musk’s $1 trillion pay package
Tesla shareholders approved a pay plan with 75% support that could make Musk the first trillionaire if he meets targets including 20 million vehicle deliveries and AI robot rollout.
- On Thursday, Tesla shareholders approved a proposed pay package that could be worth up to $1 trillion, with over 75% voting in favor at the Tesla annual meeting, held on Thursday.
- Robyn Denholm, Tesla chairwoman, and the Tesla board argued the package keeps Musk focused and rewards results, while Musk threatened to leave and framed it as control over Tesla, not riches.
- To unlock the award, Tesla must reach $8.5 trillion market capitalization and meet 12 milestones including 20 million vehicle deliveries, 10 million Full Self-Driving subscriptions, and 1 million Optimus robots delivered.
- The outcome dilutes other holders and gives Elon Musk 208 million shares with no strings attached, continuing rules that limit shareholder oversight and locking Tesla into Musk as CEO.
- Critics note Musk could net hundreds of billions with modest progress, Glass Lewis calculated a $942 billion payout, while Musk's robot and robotaxi projects remain unproven commercially.
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