Elon Musk Could Become World's First Trillionaire Through Tesla Share Deal
Elon Musk, currently the richest person globally, may become the first trillionaire thanks to a Tesla shareholders’ vote. The board approved a plan that could award Musk Tesla shares valued at $1 trillion (£762 billion) if he achieves ambitious performance goals over the next decade.
Shareholders' Vote and Reaction
After considerable debate about Musk’s leadership and the unprecedented pay package, over 75% of shareholders approved the plan at Tesla’s annual meeting in Austin, Texas.
“Fantastic group of shareholders,” Musk said following the vote. “Hang on to your Tesla stock,” he added.
Investor Confidence Amid Challenges
The approval demonstrates sustained investor confidence in Musk despite Tesla facing difficulties such as falling sales, shrinking market share, and decreasing profits. These challenges have been partly attributed to Musk’s political involvement and spreading conspiracy theories online.
Sales Decline in Europe
The vote followed reports of a sharp decline in Tesla sales in Europe, including a 50% drop in Germany last month, further reflecting the company's current struggles.
Summary
Elon Musk's new Tesla share deal could make him the first trillionaire, highlighting ongoing investor trust despite recent company setbacks and controversies.