Elon Musk Could Become World's First Trillionaire Through Tesla Share Deal
Elon Musk, the world’s richest man, may become the first trillionaire thanks to a Tesla board decision that could award him shares valued at $1 trillion (£762 billion). This would happen if he meets a series of ambitious performance targets over the next decade.
The decision followed intense discussions about Musk's management of Tesla and the appropriateness of such a generous pay package. The debate involved investors, pension funds, and even the pope.
At Tesla’s annual meeting in Austin, Texas, over 75% of shareholders supported the plan.
“Fantastic group of shareholders,” Musk said after the vote count. “Hang on to your Tesla stock,” he added.
The vote represents a significant win for Musk, indicating that investors still believe in his leadership despite Tesla facing recent challenges, including falling sales, reduced market share, and shrinking profits. Many attribute these problems partly to Musk himself.
This year, some car buyers have distanced themselves from Tesla as Musk has engaged in political controversies in the US and Europe and circulated conspiracy theories online.
The shareholder vote occurred shortly after reports revealed that Tesla’s sales in Europe had dropped sharply, including a 50% decrease in Germany last month.
Summary
Elon Musk’s potential rise to trillionaire status hinges on ambitious Tesla targets amid investor confidence and company sales challenges, especially in Europe.