Tesla shareholders have approved a new compensation package for CEO Elon Musk that could make him the world’s first trillionaire.
Elon Musk to become world’s first Trillionaire
On October 6, about 75% of Tesla shareholders voted in favor of a $1 trillion pay package, according to CNBC and Business Insider. The plan links Musk’s potential earnings to several strict performance milestones that must be achieved by 2035.
To receive the full payout, Musk must increase Tesla’s market capitalization to $8.5 trillion, sell 12 million vehicles annually, and deploy 1 million robotaxis and 1 million humanoid robots, Business Insider reported. Musk must also remain Tesla’s CEO for at least seven and a half years, though he is allowed to continue leading SpaceX and xAI, NBC News confirmed.
Following the vote, Musk addressed shareholders at Tesla’s annual meeting in Austin, Texas, where he thanked investors for their support. “I super appreciate it. Thank you, everyone,” he said. “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 followed months of debate among investors. NBC News reported that Norway’s sovereign wealth fund, managed by Norges Bank Investment Management, opposed the package, citing concerns about dilution and corporate dependence on Musk. “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,” the fund stated.
Despite opposition, the majority vote reflects strong investor confidence in Musk’s leadership. Musk currently holds a net worth of approximately $461 billion, according to the Bloomberg Billionaires Index.
Furthermore, the Tesla vote comes amid growing public scrutiny of Elon Musk’s political involvement and leadership style. Earlier in 2025, protestors gathered outside Tesla showrooms in response to his participation in President Donald Trump’s Department of Government Efficiency and his recent budget proposals.
