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Elon Musk's $1 trillion salary deal approved by Tesla shareholders

2025-11-07 08:02:00, Kosova & Bota CNA

Elon Musk's $1 trillion salary deal approved by Tesla shareholders

Shareholders have approved a record pay package that could reach nearly $1 trillion (£760 billion).

The unprecedented deal was approved by 75% of the vote and received huge applause from the audience at the firm's annual general meeting on Thursday.

Musk, already the richest man in the world, must drastically increase the market value of the electric car company over 10 years. If he does so and meets various targets, he will be rewarded with hundreds of millions of new shares.

The potential payout rate has drawn criticism, but Tesla's board argued that Musk could leave the company if it was not approved and that it could not afford his loss.

"What we are about to start is not just a new chapter in Tesla's future, but a whole new book," Musk said.

"Other shareholder meetings are quiet, but our meetings are terrible. Look at this. This is disgusting," he added.

Key milestones Musk needs to achieve over the next decade to maximize his reward include increasing Tesla's market value to $8.5 trillion from $1.4 trillion at the time of writing.

It would also need to put one million self-driving Robotaxi vehicles into commercial operation.

But his early comments on Thursday put the spotlight on the Optimus robot, dashing the hopes of some early analysts and Tesla watchers who want Musk to focus on reviving the company's electric vehicle business./ CNA





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