Elon Musk becomes the first CEO to secure a trillion-dollar compensation package

Austin: Tesla’s founder and CEO, Elon Musk, has made history by becoming the first CEO to be entitled to a trillion-dollar (760 billion pounds) compensation package. This unprecedented deal was approved by the company's shareholders, with 75% of them supporting Musk's extraordinary compensation package.

The package received overwhelming backing during the voting at Tesla’s annual general meeting, with applause echoing throughout the hall. Under this agreement, Elon Musk will receive the compensation over the next 10 years in exchange for significantly increasing Tesla's market value. If he meets his targets, Musk will be granted hundreds of millions of new shares, potentially worth up to $1 trillion.

While the deal has faced criticism from some quarters, Tesla’s board of directors has stated that if the package were rejected, Elon Musk could leave the company, and running Tesla without him would be extremely challenging.

After the decision, Elon Musk celebrated by dancing on stage at the meeting in Austin, Texas, while participants cheered in his favor. Musk remarked, “What we are about to start is not a new chapter for Tesla’s future, but a new book entirely.” He further added, “Other companies’ shareholder meetings are boring, but ours is spectacular!”

Musk's goals include increasing Tesla’s market value from its current $1.4 trillion to $8.5 trillion and launching one million autonomous robotic taxis into commercial operation. These ambitious targets reflect Musk’s vision for rapid growth and Tesla’s future direction.