Friday, November 7, 2025 - Elon Musk could become the world's first trillionaire after Tesla shareholders approved his $1 trillion pay package to improve the brand.
The Tesla CEO and world's richest man won a shareholder vote
on Thursday, guaranteeing him stock worth $1 trillion if he hits
certain performance targets over the next decade, according to Mail Online.
The vote followed weeks of debate over his management record
at the electric car maker and whether anyone deserved such unprecedented pay.
In the end, more than 75 percent of shareholders present at
the company’s Austin, Texas headquarters voted in favor of the plan.
'Fantastic group of shareholders,' Musk said after the final
vote was tallied, adding 'Hang on to your Tesla stock.'
Investors voting for the pay packet were beholden by Musk's
threat that he could walk away from Tesla entirely.
There were fears that in doing so, Musk would tank the stock
and send share prices plummeting.
Tesla shares, already up 80 percent in the past
year, rose 1.5 percent on news of the vote to $447.27 in after-hours
trading.
Musk says the vote wasn't really about the money
but getting a higher Tesla stake so he could have more power over the
company.
The vote came just three days after a report from Europe
showing Tesla car sales plunged again last month, including a 50 percent
collapse in Germany.
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