Shareholders Approve Historic Pay Deal
Elon Musk, the founder and CEO of Tesla, has become the first executive in history to be granted a compensation package valued at nearly $1 trillion. Earlier, he also made headlines as the first person to amass a $500 billion fortune, marking another milestone in his extraordinary financial journey. The unprecedented pay deal was approved by a majority of Tesla shareholders during the company’s annual general meeting in Austin, Texas.
According to the company, this package is not a direct cash payment but rather a performance-based stock award. If Musk meets a series of ambitious growth targets over the next decade, the total value of the shares could eventually exceed $1 trillion — making it the largest CEO pay agreement ever recorded.
Following the vote, applause and cheers filled the hall, reflecting strong investor enthusiasm despite months of debate surrounding the deal.
Linked to Tesla’s Future Growth
Under the approved plan, Musk’s rewards are directly tied to Tesla’s long-term market performance. The targets include increasing Tesla’s market capitalization from $1.4 trillion to $8.5 trillion and launching one million autonomous robotaxi vehicles for commercial operation.
If these milestones are achieved, Tesla would become one of the most valuable companies in the world — potentially rivaling tech giants such as Apple and Microsoft.
The company’s board of directors defended the compensation plan, arguing that Musk’s leadership is indispensable and that without him, Tesla’s innovation and market dominance could suffer. Some board members reportedly warned that rejecting the package might have prompted Musk to consider leaving the company.
Praise and Criticism
While the approval marks a major victory for Musk, it has also sparked renewed criticism from some analysts and governance experts. Critics argue that the sheer scale of the package reflects widening inequality in executive pay, and that shareholders are placing too much control in the hands of one individual.
Defenders, however, point to Musk’s track record — transforming Tesla from a niche electric car startup into a global leader valued at over a trillion dollars — as justification for the extraordinary package.
Musk’s Reaction: A New Book, Not Just a New Chapter
After the results were announced, Musk appeared on stage smiling and dancing as supporters chanted his name. In his brief address, he called the decision the beginning of not just a new chapter, but a new book in Tesla’s story.
He also took a playful jab at corporate culture, saying, Most shareholder meetings are boring — ours is amazing.
The vote underscores both the deep loyalty Musk commands among Tesla investors and the continuing fascination with his high-risk, high-reward approach to business. As Tesla moves into the next decade, the company’s future — and its staggering $1 trillion bet — remain closely tied to its charismatic CEO.
