Elon Musk set to become world's first trillionaire
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Elon Musk is the world's wealthiest person. He is now set to become the very first dollar trillionaire. He was awarded a new pay deal by Tesla shareholders last week. Seventy-five per cent of shareholder votes backed a stratospheric $1 trillion pay package. It consists of up to 423.7 million shares of Tesla stock over the next 10 years. This would increase Mr Musk's stake in Tesla to almost 29 per cent. It depends on Musk increasing Tesla's market value.
Shareholders backed the deal to stop Mr Musk from leaving Tesla. The Tesla board warned of a "possibility that he may pursue other interests should [the deal] be denied". It said Musk could "achieve goals that others will perceive as impossible". An industry analyst said: "Tesla needs Musk to take it into the autonomous driving, robotic future." Mr Musk hopes to change Tesla's focus to selling self-driving cars, robotaxis, and humanoid autonomous robots.
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