BREAKING: Tesla shareholders have just approved a groundbreaking compensation package for CEO Elon Musk that could propel him toward becoming the world’s first trillionaire. On October 6, 2023, approximately 75% of shareholders voted in favor of a staggering $1 trillion pay package, as reported by CNBC and Business Insider.
This ambitious plan ties Musk’s potential earnings to a series of strict performance targets that must be met by 2035. To unlock the full payout, Tesla must achieve a market capitalization of $8.5 trillion, sell 12 million vehicles annually, and deploy 1 million robotaxis along with 1 million humanoid robots. Moreover, Musk is required to remain Tesla’s CEO for a minimum of seven and a half years, although he can continue his leadership roles at SpaceX and xAI, as confirmed by NBC News.
During Tesla’s annual meeting in Austin, Texas, Musk took a moment to express his gratitude to shareholders. “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 follows months of heated discussions among investors, with notable opposition from Norway’s sovereign wealth fund, managed by Norges Bank Investment Management. The fund raised concerns about potential dilution and the heavy reliance on Musk’s leadership. “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,” they remarked.
Despite this dissent, the overwhelming majority vote underscores strong investor confidence in Musk’s leadership capabilities. Currently, Musk holds a net worth of approximately $461 billion, according to the Bloomberg Billionaires Index.
This pivotal vote comes amid increasing public scrutiny regarding Musk’s political engagements and leadership style. Earlier in 2025, protests erupted outside Tesla showrooms in response to Musk’s involvement in President Donald Trump’s Department of Government Efficiency and his recent budget proposals.
As Tesla embarks on this ambitious trajectory toward unprecedented growth, all eyes are on Musk and the company’s ability to meet these monumental milestones. Stay tuned for further updates on this developing story as the implications of this vote unfold.
