Published: 6:25am, 7 Nov 2025Updated: 6:55am, 7 Nov 2025
Tesla shareholders approved a US$1 trillion compensation package for Chief Executive Officer Elon Musk, the largest payout ever awarded to a corporate leader.
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The unprecedented move was announced on Thursday at the electric vehicle maker’s annual meeting, culminating a weeks-long campaign by the board, the CEO and prominent retail investors to build support.
The pay agreement clears a path for Musk, the world’s richest person, to become the first ever trillionaire and expand his stake in Tesla to 25 per cent or more over the next decade.
To achieve the full payout, he will have to deliver on targets to significantly expand Tesla’s market value, revive its flagging car business and get the fledgling robotaxi and robotics efforts off the ground.
Musk took to the stage in Austin, Texas, along with dancing robots. “What we are about to embark upon is not merely a new chapter of the future of Tesla, but a whole new book,” he said. “This really is going to be quite the story.”
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He added: “Other shareholder meetings are like snoozefests, but ours are bangers. I mean, look at this. This is sick.”