{"id":2442,"date":"2025-11-06T23:00:15","date_gmt":"2025-11-06T23:00:15","guid":{"rendered":"https:\/\/www.worldpumpnews.com\/?p=2442"},"modified":"2025-11-06T23:00:15","modified_gmt":"2025-11-06T23:00:15","slug":"elon-musk-set-to-become-worlds-first-trillionaire-under-tesla-pay-package-national","status":"publish","type":"post","link":"https:\/\/www.worldpumpnews.com\/?p=2442","title":{"rendered":"Elon Musk set to become world\u2019s first trillionaire under Tesla pay package – National"},"content":{"rendered":"

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The world\u2019s richest man was just handed a chance to become history\u2019s first trillionaire.<\/p>\n

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Elon Musk won a shareholder vote on Thursday that would give the Tesla CEO stock worth $1 trillion if he hits certain performance targets over the next decade. The vote followed weeks of debate over his management record at the electric car maker and whether anyone deserved such unprecedented pay, drawing heated commentary from small investors to giant pension funds and even the pope.<\/p>\n

In the end, more than 75% of voting shareholders gathered at the company\u2019s Austin, Texas, headquarters approved the plan.<\/p>\n

\u201cFantastic group of shareholders,\u201d Musk said after the final vote was tallied, adding \u201cHang on to your Tesla stock.\u201d<\/p>\n

The vote is a resounding victory for Musk showing investors still have faith in him as Tesla struggles with plunging sales, market share and profits in no small part due to Musk himself. Car buyers fled the company this year as he has ventured into politics both in the U.S. and Europe, and trafficked in conspiracy theories.<\/p>\n

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The vote came just three days after a report from Europe showing Tesla car sales plunged again last month, including a 50% collapse in Germany.<\/p>\n

Still, many Tesla investors consider Musk as a sort of miracle man capable of stunning business feats, such as when he pulled Tesla from the brink of bankruptcy a half-dozen years ago to turn it into one of the world\u2019s most valuable companies.<\/p>\n

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The vote clears a path for Musk to become a trillionaire by granting him new shares, but it won\u2019t be easy. The board of directors that designed the pay package require him to hit several ambitious financial and operational targets, including increasing the value of the company on the stock market nearly six times its current level.<\/p>\n

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Musk also has to deliver 20 million Tesla electric vehicles to the market over 10 years amid new, stiff competition, more than double the number since the founding of the company. He also has to deploy more than 1 million of his human-like robots that he has promised will transform work and home \u2014 he calls it a \u201crobot army\u201d \u2014 from zero today.<\/p>\n

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Musk could add billions to his wealth in a few years by partly delivering these goals, according to various intermediate steps that will hand him newly created stock in the company as he nears the ultimate targets.<\/p>\n

That could help him eventually top what is now considered America\u2019s all-time richest man, John D. Rockefeller. The railroad titan is estimated by Guinness World Records to have been worth $630 billion, in current dollars, at his peak wealth more than 110 years ago. Musk is worth $493 billion, as estimated by Forbes magazine.<\/p>\n