Shareholders to Decide on $1T Tesla Stock Package for Elon Musk
Shareholders will decide on a monumental Tesla stock package for Elon Musk at the annual meeting in November. This comes as Elon Musk's wealth, primarily from Tesla and SpaceX, reached an estimated $500 billion, making him the first person to amass such fortune. The stock package, worth around $1 trillion, is tied to ambitious conditions.
Musk's wealth has been cautiously estimated due to many of his companies, including Tesla, SpaceX, X (an online platform), xAI (AI developer), and Neuralink (brain implants), not being publicly traded. His fortune was later revised down to $499.1 billion by Forbes. The stock package requires Tesla's market value to be eight times higher in ten years, Musk remaining at the helm, and Tesla deploying one million robotaxis and delivering one million AI robots.
Musk's wealth surpassed $400 billion in December 2020, coinciding with his proximity to newly elected US President Donald Trump. Musk was often seen in the White House during Trump's early months in office, but the two later fell out.
The future of Musk's unprecedented stock package, potentially worth $1 trillion, lies in the hands of shareholders at the upcoming annual meeting. The package's success depends on Tesla's growth and Musk's continued leadership, making it a significant milestone in Elon Musk's entrepreneurial journey.
