Elon Musk, already the world’s richest man, has just added another enormous fortune to his name. Tesla shareholders have signed off on a staggering compensation plan worth close to $1 trillion spread over the next ten years -- a deal that cements his role at the center of the electric carmaker’s future.
Musk marked the moment with an unexpected performance. Moments after the vote at Tesla’s annual meeting in Austin, Texas, he appeared on stage to roaring cheers and began dancing alongside Optimus, the company’s humanoid robot. The robot mirrored his movements in what many saw as a snapshot of Tesla’s ambitions.
“Other shareholder meetings are like snoozefests, but ours are bangers. Look at this — this is sick,” Musk joked, laughing with the audience. He went on to proclaim that Tesla was entering “a new era, not just in cars, but in robotics and AI,” gesturing proudly at Optimus beside him.
The scene captured how deeply the company’s future is intertwined with Musk’s AI and robotics vision. According to him, Optimus could one day take on everything from manufacturing and deliveries to personal assistance.
The vote, however, came after considerable debate. Several large investors -- including Norway’s sovereign wealth fund -- opposed the proposal. Still, the Tesla board insisted the package was crucial, arguing that without it Musk might walk away.
In the end, shareholders sided with Musk. Under the plan, he stands to receive up to $878 billion in Tesla stock over the next decade, though he must first hit major milestones tied to the company’s growth. He could ultimately be granted $1 trillion in shares but would need to make repayments to Tesla.
The targets ahead are nothing short of monumental: 20 million vehicles produced, one million robotaxis on the road, one million humanoid robots sold, and as much as $400 billion in core profit. To unlock his full compensation, Tesla’s market value must climb from about $1.5 trillion to $2 trillion -- and eventually soar to $8.5 trillion.
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