Tesla Shareholders Approve Musk’s $1 Trillion Pay Package

UPDATE: Tesla shareholders have just approved a groundbreaking compensation package for CEO Elon Musk that could propel him to become the world’s first trillionaire. On October 6, approximately 75% of Tesla shareholders voted in favor of a staggering $1 trillion pay package, setting the stage for Musk’s potential earnings to skyrocket.

The plan ties Musk’s earnings to stringent performance goals that must be met by 2035. To unlock the full payout, Musk must elevate Tesla’s market capitalization to $8.5 trillion, sell a record 12 million vehicles annually, and deploy 1 million robotaxis and 1 million humanoid robots, as reported by Business Insider.

Musk must also maintain his position as Tesla’s CEO for at least seven and a half years, although he can simultaneously lead SpaceX and xAI, according to NBC News. Following the vote, Musk expressed his gratitude to investors at Tesla’s annual meeting in Austin, Texas, stating, “I super appreciate it. Thank you, everyone. What we’re about to embark upon is not merely a new chapter on the future of Tesla but a whole new book.”

This approval comes after months of intense debate among investors. Notably, Norway’s sovereign wealth fund, managed by Norges Bank Investment Management, opposed the package, raising red flags about dilution and the risks of corporate dependence on Musk. They stated, “While we appreciate the significant value created under Mr. Musk’s visionary role, we are concerned about the total size of the award, dilution, and lack of mitigation of key person risk.”

Despite this opposition, the overwhelming majority vote underscores robust investor confidence in Musk’s leadership. Currently, Musk’s net worth stands at approximately $461 billion, according to the Bloomberg Billionaires Index.

The vote also arrives amid escalating public scrutiny of Musk’s political activities and leadership style. Earlier in 2025, demonstrators protested outside Tesla showrooms due to Musk’s involvement in President Donald Trump’s Department of Government Efficiency and contentious budget proposals.

As Tesla embarks on this ambitious journey, the unfolding developments will be closely watched not just by Tesla investors, but by the entire global market. The implications of Musk’s potential trillionaire status could reshape financial landscapes and investor expectations in the tech industry.

Next steps: Investors and analysts will be monitoring Tesla’s performance milestones as they unfold in the coming years. The stakes have never been higher for Musk and Tesla as they push towards unprecedented goals. Stay tuned for real-time updates on this significant story.