Elon Musk could become history’s first trillionaire as Tesla shareholders approve giant pay package
The world’s richest man has been given a major opportunity to reach an unprecedented milestone. Elon Musk secured shareholder approval for a massive compensation plan on Thursday that could make him the first person in history worth $1 trillion — but only if Tesla achieves specific performance goals within the next ten years.
The vote concluded after weeks of public debate about Musk’s management of the electric car manufacturer and the fairness of such an enormous payout. Opinions poured in from retail investors, large pension funds, and even religious leaders, reflecting global attention on the issue.
More than 75% of shareholders supported the proposal during Tesla’s annual meeting in Austin, Texas, marking a decisive moment for the company’s leadership and future direction.
“Fantastic group of shareholders,” Musk said after the final vote, adding, “Hang on to your Tesla stock.”
The outcome represents a strong endorsement of Musk despite Tesla facing declining sales, shrinking market share, and falling profits — trends partially attributed to Musk’s political involvement and controversial public statements. Many consumers in the U.S. and Europe have reportedly turned away from Tesla vehicles this year.
The shareholder decision also followed a European report showing Tesla’s car sales had dropped sharply in the last month, with Germany seeing a 50% decline. The contrast between Musk’s enormous personal potential reward and Tesla’s current business challenges highlights the tension surrounding the company’s future path.
Author’s Summary:
Musk’s overwhelming shareholder backing secures him the potential to become the world’s first trillionaire, even as Tesla faces severely declining sales and mounting public scrutiny.
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