Tesla Shareholders Approve Elon Musk's $1 Trillion Pay Package
At the annual shareholder meeting, over 75% of voting shares supported a pay package for CEO Elon Musk that could make him the world's first trillionaire. This vote excluded the 15% of Tesla stock Musk already owns.
"I super appreciate it," Musk said, thanking the shareholders and Tesla's board shortly after the announcement.
Musk does not receive a salary; instead, his compensation is structured as a stock grant. He could receive up to 423.7 million additional Tesla shares over the next 10 years, contingent on the company achieving specific operational or financial milestones.
The total value of these shares could reach about US$1 trillion, assuming Tesla hits an $8.5 trillion market capitalization. To qualify for the full payout, this would require the stock price to increase by 466% from current levels. The shares would be distributed in 12 equal installments over the decade.
If Musk earns all shares, his daily equivalent income would amount to approximately US$275 million, making this the most lucrative executive pay package in history.
Summary
This unprecedented pay package aligns Musk's earnings with Tesla's ambitious growth, reflecting both shareholder confidence and high performance targets.
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