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NYT News ServiceElon Musk trillionaire Elon Musk $1 trillion pay package: Elon Musk is one step closer to becoming the world’s first trillionaire after Tesla shareholders approved a historic pay package on Thursday, as per a report. Tesla Shareholders Approve Historic $1 Trillion Pay PackageThe vote, held during Tesla’s annual meeting in Austin, Texas, passed with more than 75% of shareholders in favor, granting Musk the potential to earn stock worth $1 trillion, but only if he hits a series of ambitious targets over the next decade, as per an AP report.Musk said after the vote, “Fantastic group of shareholders," adding, “Hang on to your Tesla stock,” as quoted in the report.Tough Year for Tesla: Falling Sales and ControversyThe approval comes amid a challenging year for the electric car maker. Tesla has faced plunging sales, shrinking market share, and falling profits, partly linked to Musk’s controversial behavior, including his political ventures and promotion of conspiracy theories and European sales have also slumped, with a report showing a 50% collapse in Germany last month alone, as per the AP report.ALSO READ: Bitcoin drops below $100,000 today - is crypto market crashing after it wipes out 2025 gains in just one month!Live EventsWhy Investors Still Have Faith in MuskDespite these setbacks, many investors still view Musk as a miracle worker who turned Tesla from near-bankruptcy into one of the world’s most valuable companies, as per the report. Supporters argue the unprecedented pay package is needed to keep him focused on Tesla’s bold ambitions, including building an AI-driven network of self-driving cars and a “robot army” for homes and workplaces, as per the report.The Catch: Ambitious Targets Musk Must HitThe path to a trillion-dollar payday is far from guaranteed as Musk must meet several challenging financial and operational goals, as per the AP report. These include increasing the value of the company on the stock market nearly six times its current level, delivering 20 million electric vehicles over the next 10 years, more than double the total cars Tesla has produced since its founding and deploying 1 million humanoid robots, as reported by AP.ALSO READ: Thanks to this judge, your SNAP payment could arrive today — here’s what you need to knowPartial Milestones Could Still Bring BillionsMusk could still earn billions by achieving partial milestones, receiving newly created stock as he progresses toward the ultimate targets. If fully realized, the payout could surpass the peak wealth of America’s richest historical figure, John D. Rockefeller, estimated at $630 billion in today’s dollars, as per the AP report. Musk himself is currently worth roughly $493 billion, according to Forbes.Critics Slam the Pay Package as ExcessiveThe plan drew criticism from major institutional investors, including CalPERS, Norway’s sovereign wealth fund, and corporate governance watchdogs like Institutional Shareholder Services and Glass Lewis. Musk responded angrily, calling them “corporate terrorists” at a recent investor meeting, as per the AP report. Sam Abuelsamid, an analyst at research firm said that, “He has hundreds of billions of dollars already in the company and to say that he won’t stay without a trillion is ridiculous,” adding, “It’s absurd that shareholders think he is worth this much,” as quoted in the report.Supporters Highlight Musk’s Role in AI and RoboticsSupporters counter that Musk is essential for Tesla’s future AI projects, including self-driving technology and robots that could transform everyday life. Analyst Dan Ives of Wedbush Securities, “This AI chapter needs one person to lead it and that’s Musk,” adding, “It’s a huge win for shareholders,” as quoted by AP.Other Key Decisions at Tesla’s Annual MeetingMusk also secured shareholder approval to allow Tesla to invest in his other venture, xAI, while a proposal to make it easier for shareholders to sue the company was rejected, as per the report.FAQsHow much could Elon Musk earn from his new pay package?Up to $1 trillion if he hits all targets over the next 10 years.Did shareholders approve the package?Yes, more than 75% voted in favor during Tesla’s annual meeting.Add as a Reliable and Trusted News Source Add Now! 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