Elon Musk Dances After Tesla Shareholders Approve $1 Trillion Pay Package | Firstpost Live

And moving on to some tech updates. A major deal has been approved by the Tesla board which was crucial to keeping the world's richest man at the company. On a November evening in Austin, Texas Elon Musk took to the stage waving and dancing with a humanoid robot celebrating what could be the biggest paycheck in human history. Tesla shareholders had just approved a staggering one trillion dollar pay package that could make Musk, already the world's richest person, the first trillionaire on planet earth. Over 75 percent of shareholders voted in favor of the plan. That's excluding the 15 percent of the company that Musk already owns. The moment was met with thunderous applause and a simple thank you from Musk who said he appreciated the But this isn't a typical salary. In fact Musk doesn't take one at all. Instead his approved compensation comes entirely in the form of stock grants. Potentially 423 million Tesla shares awarded over the next decade. To acquire all of those shares Tesla must reach a market value of 8.5 trillion dollars within the next decade. That's an extraordinary target. More than six times the company's current worth which stands at around 1.4 trillion dollars. For context NVIDIA, the world's most valuable company as of mid-2025, hit a five trillion dollar cap recently becoming the first to achieve this milestone. Musk's final target will place Tesla roughly 70 percent higher than NVIDIA's. The deal is split into 12 equal parts or tranches. The first tranche begins when Tesla hits a two trillion dollar valuation. The next nine tranches would be awarded if Tesla's value rises with increments of 500 billion dollars going up to 6.5 trillion. Musk would earn the last two tranches if the market cap rises by increments of one trillion dollars from there. To put this into perspective if Musk were to achieve it all he'd effectively be earning around 275 million dollars a day. Musk's net worth is already an estimated 473 billion dollars owing to his holdings in Tesla, SpaceX and XAI. Now a vote to reject the recent pay package could have meant his exit from Tesla's CEO office. The approved pay package would give Musk increased voting power over the company agreeing to demands that he's publicly made since early last year and his ownership would increase from about 13 percent to 25 percent. But this historic payout doesn't come without risk. Tesla has had a turbulent year with declining sales, shrinking profits and growing competition in the electric vehicle market. Still Musk seems unfazed. He told shareholders Tesla is entering a new era one that goes beyond electric cars. We've got the first car that is specifically built for unsupervised full self-driving to be a robo-taxi. It's called a cyber cab. It doesn't even have pedals or a steering wheel. So there's no side view mirrors. It's very much optimized for the lowest cost per mile in an autonomous mode and that production is happening right here in this factory and will be starting production in April next year. Yet for all the optimism and spectacle those robots remain prototypes. None have gone on sale and Tesla's self-driving technology still requires human oversight. For Musk to turn his trillion dollar dream into reality he'll need to steer Tesla through its current storm and deliver on promises that so far live only in the future. Because while shareholders have handed him the keys to the world's most ambitious payday, the road ahead is long, the milestones steep and the clock is ticking. Wonderfans. The latest developments. News that gets straight to the point. Well we've got all three just for you. This is First Post Live, a brand new show. Your window into what really matters. Don't miss it.