BREAKING: Tesla shareholders have just approved a staggering new compensation package for CEO Elon Musk that could elevate him to become the world’s first trillionaire. This pivotal vote took place on October 6, 2023, where approximately 75% of shareholders supported the unprecedented $1 trillion pay plan, according to reports from CNBC and Business Insider.
This ambitious plan ties Musk’s potential earnings to strict performance milestones that must be met by 2035. To secure the full payout, Musk must achieve a market capitalization of $8.5 trillion, sell 12 million vehicles annually, and deploy 1 million robotaxis alongside 1 million humanoid robots. Additionally, he must remain Tesla’s CEO for a minimum of seven and a half years, although he can continue leading SpaceX and xAI, confirmed NBC News.
Following the vote, Musk addressed shareholders at Tesla’s annual meeting in Austin, Texas, expressing his gratitude for their backing. “I super appreciate it. Thank you, everyone,” he stated. “What we’re about to embark upon is not merely a new chapter on the future of Tesla but a whole new book.”
The approval of this package comes after months of intense debate among investors. Notably, Norway’s sovereign wealth fund, managed by Norges Bank Investment Management, opposed the package, citing concerns over dilution and a corporate reliance on Musk. The fund 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 strong investor confidence in Musk’s leadership and vision for Tesla’s future. Currently, Musk’s net worth is estimated at approximately $461 billion, according to the Bloomberg Billionaires Index.
This vote arrives amid increasing public scrutiny of Musk’s political engagements and leadership approach. Earlier in 2025, protests erupted outside Tesla showrooms in response to his involvement in President Donald Trump’s Department of Government Efficiency and his controversial budget proposals.
As this story develops, the implications of Musk’s potential rise to trillionaire status will be closely watched, not just for Tesla but for the broader tech and automotive industries. Investors and the public alike will be keen to see how Musk navigates these ambitious goals while addressing the growing concerns surrounding his leadership style.
Stay tuned for more updates as this story unfolds.
