US EditionTesla shareholders approve Elon Musk’s $1 trillion pay package
- 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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434 Articles
75 percent of Tesla shareholders voted for a compensation plan that could make CEO Elon Musk a billionaire.
The shareholders of the car manufacturer have granted to the richest man in the world, an exorbitant remuneration plan
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Elon Musk set to become world's first trillionaire after Tesla pay package
The world's richest person is set to receive a $1 trillion compensation plan after Tesla shareholders on Thursday approved the largest corporate payout in history for CEO and former DOGE head Elon Musk.
This ten-year "pay package" consists of twelve tranches setting financial and operational thresholds triggering, under certain conditions, the granting of group shares to the richest man in the world.
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