Elon Musk, already the world's wealthiest person, is set to become even wealthier. He is course to become the planet's first dollar trillionaire. This is because a new remuneration package approved Tesla shareholders the company's annual general meeting (AGM) on Thursday. Seventy-five per cent of shareholder votes endorsed a stratospheric pay deal around $1 trillion. A trillion is a thousand billion. The compensation consists of to 423.7 million shares of Tesla stock the next 10 years. This would mean that Mr Musk's stake Tesla increases from 13 per cent to almost 29 per cent. This depends Musk boosting Tesla's market value to $8.5 trillion.
Tesla shareholders were encouraged to back the deal to stop Mr Musk potentially walking away Tesla. The Tesla board warned a "possibility that he may pursue other interests should [the deal] be denied". It added that Musk was needed "to achieve goals that others will perceive as impossible, but that we know are possible Tesla". Industry analyst Dan Ives concurred. He wrote: "Tesla needs Musk to take it the autonomous driving, robotic future." Mr Musk hopes to propel the company forward shifting focus from electric vehicles. He plans to shift to selling self-driving cars, a fleet "Cybercab" robotaxis, and a legion "Optimus" humanoid bi-pedal autonomous robots.
