Elon Musk is aiming to become the world's first trillionaire after Tesla approved an earth-shattering pay package.
On Thursday, November 6, 75% of Tesla shareholders voted to approve a compensation plan worth over $1 trillion for the SpaceX founder.
Musk reportedly will not be automatically paid, as the package requires him to meet a number of business goals for the car company.
As per Business Insider, the 54-year-old will have to boost Tesla's market cap to $8.5 trillion by 2035, sell 12 million vehicles a year, and deploy 1 million robotaxis and 1 million humanoid robots.
Moreover, the current CEO would also need to remain in his position for seven and a half years to earn any shares from the new pay package, while he could continue to serve as the CEO for his other ventures, including xAI and SpaceX.
Elon Musk is already the wealthiest person in the world with a net worth of about $461 billion.
Notably, the new pay plan came after months of debate, both in public and amongst Tesla's shareholders.
