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Elon Musk set to become world's first trillionaire

Being a Trillionaire - Level 4

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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Being a Trillionaire - Level 5

Elon Musk is the world's wealthiest person. He is set to become even richer and become the very first dollar trillionaire. He was awarded a new remuneration package by Tesla shareholders at the company's annual general meeting (AGM) last week. Seventy-five per cent of shareholder votes backed a stratospheric pay deal of $1 trillion. 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 from about 13 per cent to almost 29 per cent. It depends on Musk increasing Tesla's market value to $8.5 trillion.

Shareholders were encouraged to back the deal to stop Mr Musk from potentially leaving Tesla. The Tesla board warned of a "possibility that he may pursue other interests should [the deal] be denied". It said Musk was needed "to achieve goals that others will perceive as impossible, but that we know are possible for Tesla". An industry analyst agreed. He wrote: "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, "Cybercab" robotaxis, and "Optimus" humanoid bi-pedal autonomous robots.

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11 online activities    |    8-page printable   (PDF)

Being a Trillionaire - Level 6

Elon Musk, already the world's wealthiest person, is set to become even wealthier. He is on course to become the planet's first dollar trillionaire. This is because of a new remuneration package approved by Tesla shareholders at the company's annual general meeting (AGM) on Thursday. Seventy-five per cent of shareholder votes endorsed a stratospheric pay deal of around $1 trillion. A trillion is a thousand billion. The compensation consists of up to 423.7 million shares of Tesla stock over the next 10 years. This would mean that Mr Musk's stake in Tesla increases from about 13 per cent to almost 29 per cent. This depends on Musk boosting Tesla's market value to $8.5 trillion.

Tesla shareholders were encouraged to back the deal to stop Mr Musk from potentially walking away from Tesla. The Tesla board warned of 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 for Tesla". Industry analyst Dan Ives concurred. He wrote: "Tesla needs Musk to take it into the autonomous driving, robotic future." Mr Musk hopes to propel the company forward by shifting focus from electric vehicles. He plans to shift to selling self-driving cars, a fleet of "Cybercab" robotaxis, and a legion of "Optimus" humanoid bi-pedal autonomous robots.

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25 online activities    |    27-page printable    |    2-page mini-lesson