Tesla Shareholders Approve Musk's $1 Trillion Pay Package Tied to Ambitious Growth Targets
Summary
Tesla shareholders overwhelmingly approve Elon Musk's unprecedented $1 trillion compensation package tied to achieving an $8.5 trillion market cap, 20 million vehicle deliveries, and deploying 1 million robotaxis, boosting his ownership stake from 13% to 25%.
Key Points
- Tesla shareholders approve Elon Musk's $1 trillion pay package with over 75% support at the company's annual meeting in Austin, Texas
- The compensation plan consists of 12 tranches tied to ambitious milestones including reaching $8.5 trillion market cap, 20 million vehicle deliveries, and 1 million robotaxis in operation
- Musk's ownership stake increases from 13% to 25% while the plan includes no limits on his political activities or minimum time requirements at Tesla