Summary
Tesla shareholders voted to approve a pay package for Elon Musk that could make him the world's first trillionaire if he meets certain goals. The plan requires Musk to vastly increase Tesla's output and market value over the next decade. Despite opposition from some investors, over 75% of shareholders supported the proposal.
Key Facts
- Elon Musk received approval from Tesla shareholders for a pay package that could be worth $1 trillion.
- To earn this, Musk must meet financial and operational targets over the next ten years.
- More than 75% of voting shareholders supported the plan.
- The proposal requires Musk to significantly increase Tesla's market value and production.
- Tesla must produce 20 million electric vehicles in a decade, doubling its current output.
- Musk also aims to deploy over 1 million robots as part of his targets.
- Despite some fierce opposition, many investors believe in Musk's ability to achieve ambitious business goals.
- Tesla shares rose 1.5% after the approval was announced.
