Tesla Floats Record Pay Deal That Could Make Elon Musk The First Trillionaire

Tesla’s directors have unveiled a fresh pay proposal for Elon Musk, a deal that could elevate him to the status of the world’s first trillionaire, according to a recent report by The Indian Express. The proposal, made up entirely of Tesla stock, still needs shareholder approval, with a vote scheduled for November 6.

The board has tied the package to Musk’s ability to steer Tesla far beyond electric vehicles. The company is now aiming to establish itself as a leader in artificial intelligence, robotics, and futuristic technologies. Reports indicate that the performance goals are linked to breakthroughs in areas such as autonomous driving systems, humanoid robots, and AI-led products.

The Everest Of Performance Targets

The conditions Musk must meet are formidable. Securities filings show that Tesla’s market capitalization would need to jump from its current $1.1 trillion to $8.5 trillion over the next decade for the package to be fully realized. Achieving that would require Tesla to almost double the valuation of Nvidia, the world’s most valuable company at present.

Tesla’s proxy filing also included a shareholder proposal suggesting that the company take a stake in xAI, Musk’s privately owned artificial intelligence firm. Such a move could deepen Tesla’s ambitions in the AI space while further tightening Musk’s influence across his growing business empire.

A Fortune-Shaping Moment In Corporate History

If successful, the plan could add close to $900 billion to Musk’s already vast fortune of more than $400 billion. That would set a new benchmark in executive compensation, making it the largest such deal in corporate history.

Earlier this year, Tesla granted Musk a stopgap stock award worth around $29 billion, intended to lock in his leadership until 2030 as the company sharpens its focus on artificial intelligence.