The post Tesla Approves Musk’s $1 Trillion Pay Package appeared on BitcoinEthereumNews.com.

Topline Tesla shareholders approved a compensation package Thursday for CEO Elon Musk that could be worth close to $1 trillion, a deal proposed by Tesla’s board as crucial to keeping the world’s richest man at the company, though the payment plan was challenged in recent weeks by some of the automaker’s largest shareholders. The world’s richest person could have his net worth nearly double under the proposed payment plan. Getty Images Key Facts Over 75% of Tesla shareholders voted in favor of the pay package. Shareholders met at 4 p.m. EST, with a final tally from the vote expected to be disclosed in a Securities and Exchange Commission filing in a few days. The payment package will award Musk more than 423 million additional shares, increasing his stake to about 25%, should Tesla achieve several goals over the next decade. For Musk to receive his full compensation reward, Tesla’s market capitalization must be raised from $1.5 trillion as of Thursday to $8.5 trillion within 10 years, as well as other goals, which include selling 12 million more cars, 10 million autonomous driving subscriptions, operating 1 million Robotaxis and selling 1 million Tesla Bots, among others. Who Supported Musk’s Pay Package? Tesla chair Robyn Denholm, in a letter to shareholders last week, warned investors that Musk may leave the company if the plan was denied, claiming Tesla would lose “significant value without Musk” as Tesla “may no longer be valued for what we aim to become.” Denholm and other board members wrote in another letter they believe Musk’s vision for the company is “vital to navigating this crucial inflection point.” Counterpoint Global, an investment team operating within Morgan Stanley, said it would vote in favor of Musk’s deal, arguing under Musk’s leadership, Tesla has “achieved incredible fundamental success and shareholder returns.”…

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Filed under: News - @ November 7, 2025 12:19 am