New York( The COW News Digital)Elon Musk, the CEO and founder of Tesla, has become the first executive in history to be approved for a compensation package valued at nearly $1 trillion, marking an unprecedented moment in the global corporate landscape. The decision was finalized after 75% of Tesla’s shareholders voted in favor of the pay plan during the company’s annual general meeting held in Austin, Texas.
The extraordinary package is tied to long-term performance targets rather than an immediate payout. Under the agreement, Musk will only receive the compensation if he successfully drives Tesla’s market valuation to significantly higher levels within the next decade. The plan involves granting Musk hundreds of millions of new shares, which would collectively reach an approximate value of $1 trillion if the company meets its projected milestones.
Currently, Tesla is valued at around $1.4 trillion, but Musk has laid out ambitions to elevate the company’s market capitalization to $8.5 trillion. These future goals include expanding Tesla’s core electric vehicle business, scaling battery production, advancing autonomous driving technology, and deploying one million fully autonomous “robotaxi” vehicles into commercial operations worldwide.
While the approval was met with loud applause and enthusiastic responses inside the meeting hall, the compensation package has also been the subject of significant debate. Critics argue that the payout is excessively large and concentrates too much financial power in the hands of one individual. Supporters, however, insist that Musk’s leadership is instrumental to Tesla’s success and that rejecting the package could risk him stepping away from the company.
Tesla’s board defended the decision by stating that Musk’s innovation, risk-taking ability, and forward-looking vision have positioned Tesla at the forefront of the global electric vehicle and renewable energy transition. The board further warned that if Musk were to leave, it would be “nearly impossible” for Tesla to maintain its current trajectory.
Following the announcement, Musk took to the stage and performed a celebratory dance, receiving cheers and chants from shareholders in attendance. In his remarks, he stated, “What we are about to begin is not just a new chapter in Tesla’s future — it is a new book.”
Musk also highlighted that Tesla’s shareholder meetings stand apart from others in the industry. “Other companies’ meetings are boring,” he said. “Ours is electric — in every sense.”
