Elon Musk Wins Trillion-Dollar Tesla Pay Vote, Paving Way to Become World’s First Trillionaire

Elon Musk has secured a resounding victory in a shareholder vote that could make him the world’s first trillionaire — if he delivers on a set of ambitious performance targets for Tesla over the next decade.

More than 75% of shareholders approved the landmark pay package on Thursday at Tesla’s annual meeting in Austin, Texas, following weeks of heated debate over Musk’s leadership, pay, and polarizing behavior.

“Fantastic group of shareholders,” Musk said after the results were announced. “Hang on to your Tesla stock.”

The vote marks a major show of confidence in Musk despite Tesla’s steep decline in sales, profits, and market share this year — setbacks many blame on the CEO’s growing involvement in politics and controversial public remarks. Just days before the vote, European data showed Tesla’s sales had plunged again in May, including a 50% drop in Germany.

A Path to $1 Trillion — With Big Conditions

The approved compensation plan could award Musk Tesla stock worth up to $1 trillion, but only if he meets a series of demanding milestones. These include increasing Tesla’s market capitalization nearly sixfold and delivering 20 million electric vehicles over the next decade — more than double its total production since inception.

Musk must also successfully deploy one million humanoid robots, part of his long-promised “robot army” meant to transform both workplaces and homes. Partial progress toward these goals could still grant him billions in new stock along the way.

If fully realized, the plan could propel Musk’s net worth past that of industrial titan John D. Rockefeller, whose fortune peaked at an estimated $630 billion (in today’s dollars). Musk is currently worth about $493 billion, according to Forbes.

Criticism and Support Split Wall Street

The trillion-dollar package faced stiff opposition from major investors including CalPERS, the largest U.S. public pension fund, and Norway’s sovereign wealth fund. Corporate governance firms ISS and Glass Lewis also slammed the plan as excessive, drawing Musk’s ire — he branded them “corporate terrorists.”

Critics argued Musk’s pay was unjustified given his vast existing wealth and erratic management style. “He already has hundreds of billions tied up in Tesla. To say he won’t stay without a trillion is ridiculous,” said Sam Abuelsamid, an analyst at Telemetry Research.

Supporters countered that Musk’s vision and drive were essential to Tesla’s next chapter — particularly its transformation into an artificial intelligence and robotics company. “This AI chapter needs one person to lead it, and that’s Musk,” said Dan Ives of Wedbush Securities. “It’s a huge win for shareholders.”

Power Play

Musk insisted the vote was not about personal gain but about securing greater control of the company. The plan effectively doubles his stake in Tesla to nearly 30%, which he said is necessary to guide the company’s AI-driven future and safeguard humanity from potential risks of advanced robotics.

Tesla shares rose initially in after-hours trading following the vote but ended the session flat at $445.44.

Shareholders also approved allowing Tesla to invest in Musk’s artificial intelligence startup xAI, while rejecting a proposal that would have made it easier for smaller investors to sue the company.