Elon Musk Could Become World's First Trillionaire Thanks to Tesla Share Deal
A recent Tesla board decision may allow Elon Musk to acquire new Tesla shares if he achieves a series of ambitious performance goals. The move, approved by shareholders, could make him the first person in history to reach a net worth of one trillion dollars.
The world’s richest man secured a shareholder vote granting him the potential to earn Tesla shares valued at around $1 trillion (£762 billion) over the next ten years, provided he meets key performance benchmarks. The approval followed extensive discussions about his leadership and the extraordinary scale of the compensation plan, which triggered responses from investors, pension funds, and even religious figures.
During the company’s annual meeting in Austin, Texas, over 75% of shareholders supported the proposal, demonstrating continued confidence in Musk despite Tesla’s recent difficulties with declining sales, reduced market share, and lower profits.
“Fantastic group of shareholders,” Musk said after the vote. “Hang on to your Tesla stock,” he added.
Despite the company’s recent setbacks, the outcome represents a significant personal and professional win for Musk. However, concerns remain as buyers have increasingly turned away from Tesla, influenced by Musk’s political involvement in the US and Europe and his controversial online activity. The vote occurred shortly after data showed another drop in Tesla’s European sales, including a 50% decline in Germany last month.
Author’s Summary
Elon Musk secured strong shareholder support for a deal that could make him a trillionaire, though Tesla continues to face major sales challenges globally.
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