Tesla Shareholders Approve Elon Musk’s Trillion-Dollar Pay Package
Tesla shareholders have approved an unprecedented compensation plan for Elon Musk that could potentially earn him stock valued at around one trillion dollars, contingent on the company’s performance over the next decade.
The vote took place during Tesla's annual shareholder meeting, where approximately 75% of shareholders supported the measure, according to preliminary results.
“Elon Musk would earn no base salary under the plan but could unlock Tesla stock worth about a trillion dollars if specific growth targets are achieved.”
Performance Conditions
- Musk must raise Tesla’s market capitalization from about $1.5 trillion to over $8.5 trillion.
- The incentives are tied exclusively to performance milestones, not salary.
Global Comparison
For perspective, Nvidia—the world’s most valuable company amid the AI surge—is worth $4.83 trillion. Its CEO earns $50 million annually and holds roughly 3.5% of the company.
Elon Musk’s Current Wealth
Musk is already among the wealthiest individuals globally, with an estimated net worth of $460 billion, according to the Bloomberg Billionaires Index.
Event Appearance
Elon Musk attended the Tenth Breakthrough Prize Ceremony at the Academy Museum of Motion Pictures in Los Angeles, California, on April 13, 2024.
Author’s summary: Tesla shareholders overwhelmingly backed a unique deal that could make Elon Musk the first trillionaire if Tesla achieves major market growth targets.