Elon Musk may become the world’s first trillionaire as Tesla unveils a $1 trillion pay package tied to ambitious market goals. Photos/X, Tesla.
Tesla CEO Elon Musk may be on track to become the world’s first trillionaire after the company’s board announced a new pay package worth $1 trillion. Under the proposal, Musk would receive 12% of Tesla’s shares if the company successfully meets all outlined targets. The compensation plan requires Tesla to achieve a series of ambitious benchmarks, including expanding its market value to at least $8.5 trillion.
According to a CNN report, the package would grant Musk 423.7 million additional Tesla shares, currently valued at around $143.5 billion. The payout, however, would only materialize if Tesla reaches the $8.5 trillion market capitalization goal.
The potential value of the entire package is estimated at $1.03 trillion, representing a substantial increase from Tesla’s present market valuation.
“This is all about Musk being scared about being kicked out of Tesla because he only owns 13%,” Ross Gerber, CEO of Gerber Kawasaki and an early Tesla investor who has since sold most of his holdings, told CNN.
At present, Musk owns 410 million Tesla shares, valued at about $139 billion. His wealth also includes stakes in SpaceX, xAI, and X, bringing his total net worth to approximately $378 billion.
The proposed plan was also made in the 2018 compensation package, which significantly boosted his net worth and was twice approved by shareholders. However, that earlier deal was struck down by a Delaware judge, who ruled that Musk had considerable influence over Tesla’s board.
With Musk actively involved in multiple companies, concerns have grown that his attention could shift away from Tesla’s core business.
Earlier this year, the board also approved a $29 billion interim package aimed at retaining Musk through 2030. Despite recent volatility in Tesla’s stock, Musk and his supporters remain confident in the company’s long-term prospects, which include ambitious plans for self-driving robotaxis and humanoid robots.
Also Read: Netizens React To Tesla’s $1000000000000 Pay Package To Elon Musk: ‘I Guess He Will Use That To…’
Zubair Amin is a Senior Journalist at NewsX with over seven years of experience in reporting and editorial work. He has written for leading national and international publications, including Foreign Policy Magazine, Al Jazeera, The Economic Times, The Indian Express, The Wire, Article 14, Mongabay, News9, among others. His primary focus is on international affairs, with a strong interest in US politics and policy. He also writes on West Asia, Indian polity, and constitutional issues. Zubair tweets at zubaiyr.amin
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