Tesla Shareholders Approve Elon Musk's Trillion-Dollar Stock Pay Package
Tesla shareholders have overwhelmingly approved a extraordinary pay package for Elon Musk, with 75% voting in favor at the annual meeting.
Details of the Package
Musk would not receive a salary but could unlock Tesla stock valued close to one trillion dollars if the company meets specific goals within the next decade. Key targets include increasing Tesla's market capitalization from around $1.5 trillion to over $8.5 trillion.
Market Value Comparison
To put this in perspective, Nvidia—the world's most valuable company driven by the AI boom—is currently worth $4.83 trillion. Nvidia's CEO earns $50 million per year and owns 3.5% of the company.
Musk's Current Wealth
Elon Musk is already extremely wealthy, with an estimated net worth of approximately $460 billion according to the Bloomberg Billionaires Index, largely due to Tesla's stock price, which is about $465 per share—over 400 times higher than at its 2010 IPO.
Previous Compensation Disputes
A former pay package granting Musk $55.8 billion faced legal challenges after a judge ruled the board was too close to Musk in creating the deal.
"Tesla shareholders have overwhelmingly approved a pay package of extraordinary proportions for Elon Musk, passing the measure with 75% of the vote."
"Musk would earn no salary, but would unlock Tesla stock worth about a trillion dollars if the company meets certain criteria within the next decade."
Summary: Tesla shareholders approved a groundbreaking pay package for Elon Musk that may reward him with up to a trillion dollars in stock if major growth targets are met within ten years.