Elon Musk's Salary Package Approved at $1 Trillion
Tesla's CEO Elon Musk will receive a salary package valued at $1 trillion, approved during the company's annual general meeting in Austin, Texas. This staggering figure is roughly three times the GDP of Pakistan.
Shareholder Approval and Performance Targets
About 75% of Tesla investors voted in favor of the pay package. However, Musk must meet ambitious goals tied to Tesla's performance to earn this compensation. The key target is increasing Tesla’s market value from $1.5 trillion to $8.5 trillion.
Musk’s Vision and Reaction
“What we are about to embark on is not just a chapter in Tesla's future, but an entirely new book.”
Following the announcement, Musk appeared on stage smiling and dancing with Tesla's humanoid robot, Optimus, noting the uniqueness of their shareholder meetings compared to others.
Market Response and Musk's Net Worth
After the pay package was revealed, Tesla’s shares increased by about 1% in after-hours trading, according to Reuters. Musk’s current net worth exceeds $500 billion, making him the richest individual globally, as tracked by Forbes' real-time billionaire rankings.
Key Conditions for Receiving the Salary
- Musk must achieve several major milestones tied to Tesla's market valuation.
- Success is crucial to becoming the world's first trillionaire.
Tesla’s extraordinary pay plan underscores the company’s ambitious growth expectations and Musk's central role in its future.
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