Tesla Shareholders Approve Nearly $1 Trillion, Performance-Based Pay Plan for Elon Musk

Overview

• Investors passed the 10-year, 12-tranche award with more than 75% of votes at Tesla’s annual meeting in Austin, Texas.
• If all milestones are met, Musk could receive roughly 423–425 million additional shares over a decade, worth up to about $1 trillion at the plan’s market-cap goal.
• Targets include 20 million vehicles per year, 1 million robotaxis in commercial operation, 1 million Optimus humanoid robots, up to $400 billion in operating profit, 10 million FSD subscriptions, and an $8.5 trillion valuation.
• Full vesting would lift Musk’s voting influence toward roughly 25%, a prospect that drew opposition from large institutional investors and proxy advisers.
• A prior Delaware court ruling that struck down an earlier Musk pay package is under appeal, leaving legal uncertainty as shares moved with after-hours volatility and Musk framed the vote as a mandate for AI and robotics.