Musk could become history's first trillionaire as Tesla shareholders approve giant pay package

Core Points - Elon Musk has been granted a chance to become the world's first trillionaire through a shareholder vote that approved a performance-based stock plan worth $1 trillion if certain targets are met over the next decade [1][4] - Over 75% of shareholders approved the plan during the annual meeting in Austin, Texas, indicating strong investor confidence in Musk despite Tesla's current struggles with sales and market share [2][3] - The ambitious targets set by the board include increasing Tesla's market value nearly sixfold and delivering 20 million electric vehicles over the next ten years, alongside deploying 1 million humanoid robots [4][5] Company Performance - Tesla has faced significant challenges, including a reported 50% drop in car sales in Germany last month, contributing to a decline in overall sales and profits [3] - Despite these challenges, many investors still view Musk as a transformative leader capable of remarkable business achievements, recalling his past success in rescuing Tesla from bankruptcy [3] Financial Implications - Achieving the outlined performance targets could significantly increase Musk's wealth, potentially surpassing the historical wealth of John D. Rockefeller, who was valued at $630 billion in today's dollars at his peak [6][7] - The new stock grants tied to intermediate goals could add billions to Musk's wealth in the coming years as he works towards the ultimate targets [6]