News Summary

Elon Musk, CEO of Tesla, is on the verge of potentially becoming the world’s first trillionaire. Tesla shareholders are set to vote on a groundbreaking compensation package that could escalate Musk’s wealth significantly. If approved, the plan requires Musk to achieve a series of ambitious milestones, including growing Tesla’s market capitalization from $1 trillion to $8.5 trillion by 2035. Additional targets involve delivering 20 million electric vehicles, achieving 10 million active self-driving subscriptions, producing 1 million humanoid robots, and deploying 1 million robo-taxis. Despite the promise of immense financial rewards, the proposed package faces opposition from some shareholders who express concerns about its size and the dilution of stock. Key investors like Norges Bank have voiced their objections, but others, including Schwab, support the initiative, aligning with the management’s vision. Tesla’s board warns that rejecting the package might risk losing Musk’s leadership.