The award is contingent on Tesla meeting milestones that include reaching a market value of USD 8.5 trillion—up from about USD 1.1 trillion now—alongside production targets of 1 million Optimus humanoid robots and 1 million autonomous robotaxis, the reports said.
The final tranche would be paid after the USD 8.5 trillion valuation is achieved.
More than three-quarters of investors supported the plan, despite criticism that the payout is excessive and unnecessary. Tesla chair Robyn Denholm warned Musk could leave if the package failed, Axios reported.
Appearing before investors in Austin, Texas, alongside dancing humanoid robots, Musk thanked shareholders for backing the plan, saying he “very much” appreciated the support and that Tesla aimed to begin “a new chapter.”
Media noted the payout could lift Musk to the status of the world’s first trillionaire if targets are met. Forbes reported in early October that the 54-year-old’s net worth exceeded USD 500 billion and said he could become a trillionaire by March 2033 if his earnings pace continues.
Musk’s political activity—particularly ties to Donald Trump—has weighed on Tesla sales, notably in Europe, the reports said.
The billionaire, described as the largest sponsor of Trump’s campaign, ended work for the White House in late May as head of the Department of Government Efficiency (DOGE). The two also traded barbs over tax-cut and spending legislation during the summer.
(jh)
Source: PAP