Tesla shareholders have approved a groundbreaking $1 trillion compensation package for CEO Elon Musk, marking a pivotal moment in the company's history. The decision, made at Tesla's annual general meeting in Austin, Texas, saw over 75% of shareholders voting in favor of the plan, which could make Musk the world's first trillionaire if he meets ambitious targets.

A Historic Compensation Plan

The approved package requires Musk to elevate Tesla's market value from its current $1.4 trillion to $8.5 trillion by 2035. This entails achieving a series of financial and product milestones, including the deployment of 20 million electric vehicles, 10 million full self-driving subscriptions, and 1 million robotaxis. Additionally, Musk must oversee the production of 1 million humanoid robots, known as Optimus, which he claims could revolutionize industries from healthcare to security.

Mixed Reactions and Criticisms

While the compensation plan underscores shareholders' confidence in Musk's leadership, it has not been without controversy. Critics argue that the package consolidates too much power in Musk's hands, especially given Tesla's recent challenges, such as declining sales and regulatory scrutiny over its self-driving technology. The protest group Tesla Takedown described the package as "the world's most expensive participation trophy," citing safety risks and Musk's polarizing public persona.

The Vision for Tesla's Future

Musk's vision for Tesla extends beyond electric vehicles, with a strong emphasis on robotics and artificial intelligence. At the shareholder meeting, he highlighted the Optimus robot as a key component of Tesla's future, describing it as potentially "the biggest product of all time." This focus has sparked debate among analysts, with some expressing concern that Musk's attention may be diverted from Tesla's core automotive business.