UPDATE: Elon Musk is on the brink of becoming the world’s first trillionaire after Tesla shareholders overwhelmingly approved a groundbreaking compensation package. On October 6, approximately 75% of shareholders voted in favor of a staggering $1 trillion pay plan that ties Musk’s earnings to ambitious performance milestones.
This vote not only signifies substantial investor confidence in Musk’s leadership but also outlines strict criteria he must meet by 2035. To secure the full payout, Musk must boost Tesla’s market capitalization to an unprecedented $8.5 trillion, sell 12 million vehicles annually, and deploy 1 million robotaxis and 1 million humanoid robots. He must also remain CEO of Tesla for at least seven and a half years, although he can continue his roles at SpaceX and xAI, as confirmed by NBC News.
In a heartfelt address to shareholders during Tesla’s annual meeting in Austin, Texas, Musk expressed gratitude for their support, stating, “I super appreciate it. Thank you, everyone. What we’re about to embark upon is not merely a new chapter on the future of Tesla but a whole new book.”
Despite the overwhelming approval, the package faced significant scrutiny. Notably, Norges Bank Investment Management, Norway’s sovereign wealth fund, publicly opposed the compensation plan. They raised concerns about the potential dilution of shares 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,” the fund stated.
Currently, Musk’s net worth stands around $461 billion, according to the Bloomberg Billionaires Index. This vote arrives amid mounting public scrutiny regarding Musk’s political engagements and leadership style. Earlier in 2025, protests erupted outside Tesla showrooms in response to his involvement in President Donald Trump’s Department of Government Efficiency and recent budget proposals.
As Tesla gears up for ambitious expansion, the focus now shifts to how Musk will meet these daunting milestones and what this means for the future of Tesla and its investors. Stay tuned for further updates on this developing story as the implications of this historic compensation package unfold.