Elon Musk Moves Closer to Becoming the First Trillionaire

Fri Nov 07 2025 02:53:13 GMT+0200 (Eastern European Standard Time)

In a landmark vote, shareholder support has set Elon Musk on a path to potentially claim unprecedented wealth, raising debates on corporate governance and performance metrics.

Elon Musk triumphs in a shareholder vote that endorses a performance-based pay plan which could make him history's first trillionaire within a decade. Despite challenges in the form of declining Tesla sales and opposition from significant investor groups, Musk's leadership and ambitious goals have gained overwhelming backing, showcasing investor confidence. The plan requires Musk to significantly boost Tesla's market value and deliver millions of vehicles and robots.

NEW YORK (AP) — Elon Musk has secured a significant shareholder vote granting him the potential to become the world's first trillionaire. The approval allows Musk to access stock valued at $1 trillion if he meets ambitious performance targets over the next decade. Despite concerns regarding his management at Tesla amid fluctuating sales figures and recent controversies, over 75% of voting shareholders at the company's Austin, Texas headquarters supported the plan.

After the vote, Musk expressed appreciation for the shareholders and urged them to hold onto their Tesla stock. This decision reflects a considerable show of faith in Musk despite Tesla experiencing declining market share and profits, with recent reports indicating a 50% drop in vehicle sales in Germany and challenges due to Musk's sideline forays into political commentary in both the U.S. and Europe.

The plan outlines several stringent criteria for Musk, including ramping up Tesla’s stock value nearly sixfold and delivering 20 million electric vehicles in ten years, which would require more than double the cars sold since the company’s inception. Musk also aims to deploy over one million robots, part of his vision to enhance Tesla's operational capabilities.

While critics, including major investment funds and corporate watchdogs, voiced their opposition to the substantial compensation package on the grounds of excessive rewards for performance, supporters argue that such incentives are crucial for maintaining Musk's focus as he shifts Tesla toward becoming an AI-driven powerhouse. The company’s stock rose slightly following the vote, underscoring the market's positive reception to Musk's ongoing leadership.

Musk’s journey to potential trillionaire status also draws a historical parallel, as reaching this milestone could surpass the wealth amassed by John D. Rockefeller, who was valued at $630 billion in today’s dollars at his peak. For Musk, the approval signifies more than financial gain; he indicated that it enhances his stake in the company to nearly 30%, allowing for increased control over Tesla’s strategic direction, particularly as he prepares for the rollout of his envisioned 'robot army.'