Tesla CEO Elon Musk is one step closer to becoming the world’s first trillionaire after shareholders approved a massive $1 trillion stock-based compensation plan at the company’s annual meeting.
The package, structured in 12 tranches, is tied to ambitious long-term targets including Tesla’s market value growth, production of millions of electric vehicles, and expansion into AI and robotics. If fully achieved, Musk’s ownership stake in Tesla could rise from around 13 % to roughly 25 %.
Musk, whose net worth currently stands at an estimated $473 billion, would see a significant increase in both wealth and voting power at the company. Proxy advisory firms had raised concerns over the plan’s scale and governance implications, but the deal received overwhelming shareholder support.
