{"id":126280,"date":"2025-11-07T05:23:07","date_gmt":"2025-11-07T05:23:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/126280\/"},"modified":"2025-11-07T05:23:07","modified_gmt":"2025-11-07T05:23:07","slug":"tesla-deal-to-make-elon-musk-the-worlds-first-trillionaire-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/126280\/","title":{"rendered":"Tesla deal to make Elon Musk the world\u2019s first trillionaire \u2013 The Irish Times"},"content":{"rendered":"

Tesla<\/a> shareholders approved a $1 trillion (\u20ac856 billion) compensation plan for chief executive Elon Musk<\/a> on Thursday, awarding the world\u2019s richest person what would be the largest corporate payout in history if he meets the goals necessary to receive it.<\/p>\n

The pay package, which several high-profile investors opposed, demonstrates that shareholders still believe Mr Musk can lead the automaker in an era dominated by robotics and artificial intelligence.<\/p>\n

The result of the vote was announced at the annual shareholder event in Austin, Texas, with more than 75 per cent of investors voting in favour of the plan. Chants of \u201cElon\u201d erupted in the room at the news of its approval.<\/p>\n

\u201cThanks, guys,\u201d Mr Musk said, after briefly dancing on stage alongside the company\u2019s Optimus robots.<\/p>\n

Mr Musk described the Optimus robots, which have not gone into mass production, as the future of the company and of humanity. He reiterated a claim that it would be \u201cthe biggest product of all time\u201d, and suggested they could be used in everything from healthcare to prisons.<\/p>\n

[\u00a0Tesla shareholders must finally stand up to Elon MuskOpens in new window<\/a>\u00a0]<\/p>\n

\u201cYou now get a free Optimus and it\u2019s just going to follow you around and stop you from doing crime,\u201d Mr Musk said. \u201cYou don\u2019t have to put people in prisons and stuff. It\u2019s really wild to think of the possibilities.\u201d<\/p>\n

Mr Musk had previously said he wanted the pay package for more control over the company and to exert \u201cstrong influence over this robot army\u201d that he vowed to build as the company branches into robotics.<\/p>\n

Mr Musk\u2019s staggering compensation is comparative with the GDP of entire countries, exceeding that of Ireland, Sweden and Argentina. It vastly exceeds federal funding for entire government programmes and dwarfs that of other tech moguls such as Mark Zuckerberg.<\/p>\n

Critics of the package, including some investors, argued that awarding Mr Musk concentrated power in the hands of one erratic leader, and ignored the challenges the company has faced.<\/p>\n

\u201cElon Musk just got $1tn for failure. Sales are down, safety risks are up, and his politics are driving customers away. This isn\u2019t leadership \u2013 it\u2019s the world\u2019s most expensive participation trophy,\u201d the protest group Tesla Takedown said in a statement.<\/p>\n

If Mr Musk delivers on the lofty milestones in the pay package laid out at the annual meeting, he could become the world\u2019s first trillionaire. To do so, he would need to guide Tesla to $8.5 trillion in market capitalisation, eight times what it\u2019s worth today. He would also be required to deploy millions of autonomous vehicles and humanoid robots, and sustain the company\u2019s bottom line in the hundreds of billions over the next decade.<\/p>\n

The major goals of the compensation plan, split into 12 tranches, lay out a path for Tesla to reach that enormous market capitalisation. If he brings the company to that financial height, Mr Musk would be able to cash in on an additional 12 per cent of the company\u2019s stocks. To do so, he has to be vested in the company for at least seven and a half years. <\/p>\n

He would also have to help develop a long-term succession plan for the company he has led for more than 20 years.<\/p>\n

The stock options provided by the new compensation plan, on top of shares guaranteed to him in his 2018 package, would leave Musk with 25 per cent ownership of Tesla\u2019s stock. As of November 5th, Tesla stock was trading close to its 52-week high, at about $450 per share.<\/p>\n

[\u00a0Tesla\u2019s trillion-dollar plea: Won\u2019t somebody think of Elon Musk?Opens in new window<\/a>\u00a0]<\/p>\n

Over the course of a decade, Mr Musk is required to deliver 20 million of Tesla\u2019s electric vehicles to buyers, sell 10 million active full self-driving subscriptions, develop and sell 1 million humanoid robots, and deploy 1 million robotaxis in commercial service.<\/p>\n

Mr Musk will also be required to bring the company to $400 billion in actual earnings for four consecutive quarters. Tesla\u2019s actual earnings for the third quarter of 2025 were $4.2 billion, down 9 per cent from the year prior.<\/p>\n

As of November, Musk\u2019s net worth was $460 billion, the highest in the world, according to Bloomberg\u2019s Billionaire Index. \u2013 Guardian<\/p>\n","protected":false},"excerpt":{"rendered":"Tesla shareholders approved a $1 trillion (\u20ac856 billion) compensation plan for chief executive Elon Musk on Thursday, awarding…\n","protected":false},"author":2,"featured_media":126281,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,605,61,60,1188],"class_list":["post-126280","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-elon-musk","tag-ie","tag-ireland","tag-tesla"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/126280","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=126280"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/126280\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/126281"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=126280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=126280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=126280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}