Tesla shareholders have approved a record-breaking compensation plan for CEO Elon Musk, potentially worth up to $1 trillion over the next decade if key performance milestones are achieved.
The package grants Musk around 423.7 million Tesla shares in 12 tranches, tied to ambitious goals including producing 20 million electric vehicles, deploying 1 million robotaxis, and reaching $400 billion in EBITDA and an $8.5 trillion market valuation.
Tesla Chair Robyn Denholm warned that rejecting the deal could risk losing Musk’s leadership, while over 75% of shareholders supported the plan. However, some major investors, including Norway’s sovereign wealth fund, opposed it due to concerns over dilution and governance. Musk responded by labelling critics “corporate terrorists,” targeting proxy advisors Institutional Shareholder Services and Glass Lewis.
Supporters say the package secures Musk’s commitment as Tesla expands into artificial intelligence, robotics, and autonomous technology. Musk, already the world’s richest person with a net worth of $487.5 billion, could see his stake in Tesla rise from 15% to 29% if all targets are met.
