Musk could become the 1st trillionaire in the world as Tesla agrees to a huge pay package
Listen to this article
Approximately 5 minutes
The audio version of this article is produced by text-to-speech, a technology based on artificial intelligence.
The richest man in the world has just been given the chance to become history’s first trillionaire.
Elon Musk won a shareholder vote on Thursday that will give the TESLA CEO’s stock worth $1 trillion if he hits the next performance target over the next ten years.
The votes followed weeks of debate over his management record at the electric car maker and whether anyone deserved the unprecedented salary, drawing comments from big investors such as pension experts and the pope.
In the end, more than 75 percent of the gathering of shareholders who voted in Austin, Texas, headquarters accepted the plan.
“A good group of shareholders,” Musk said after the final vote was considered, adds “a hang on to your Tesla stock.”
This vote is a surprising victory for the investor who still has faith in him as Tesla fights for sales, market share and profits, in no small part because of Musk himself, in part because of Musk himself, in part because of Musk himself, because of the penetration of the body.
Auto buyers have fled the company this year after political exits in the US and Europe, and they were lured by Conpiral’s views.
The vote came just three days after a report from Europe showed sales of Tesla vehicles reopened last month, including a 50 percent fall in Germany.
Nevertheless, many Tesla investors consider Musk to be a kind of miracle capable of surprising business enterprises, as when he pulled Tesla from the brink of bankruptcy twelve years ago to turn it into one of the most valuable companies in the world.
Musk must meet the target stones
This vote clears the way for Musk to become a trillionaire by issuing new shares, but it won’t be easy.
The Board of Directors Planned Remuneration Package required him to hit certain financial and operational milestones, including increasing the company’s stock market value by nearly six times.
Musk also has to bring 20 million electric cars to market over 10 years amid stiff competition — that’s more than doubling the company’s number.
Elon Musk is already rich in the rich world, but he could become the world’s first trillionaire if his company Tesla hits a series of stones scheduled in the payment system presented by the company of the paid car.
He must also send more than 1 million of his human-like robots to transform work and home – he calls “robot armies” – from scratch today.
Musk could add billions to his fortune in a few years by delivering on these goals, according to various interim measures that will give him newly created stock in the company as it approaches the final stone.
That would help end John D. Rockefeller, widely considered America’s richest man of all time.
The train titan is estimated by Guinness World Records to be worth $630 billion in today’s dollars, at the peak of its wealth more than 110 years ago. Musk is worth $493 billion, as estimated by Forbel magazine.
Plastic Blast Pack
Musk’s win came despite opposition from several major funds, including Calfers, the largest US pension fund, and Norway.
Two corporate watchdogs, the services of Institutional Sharedner and Lig Glass Lewis, and exploded this package, which misk was so angry that he took it to call them “corporate terrorists who have recently cooperated.”
Critics say the Board of Directors saw too much of a musk, the way he behaved recently and that the wealth donated was too much.
Supporters say Musk needs to be motivated to focus on the company as he works to transform it into an AI powerhouse, using steering wheels, robots that are being deployed in offices, factories and homes that are now multitasking.
Investors who voted for the payment were not only looking at Mucki’s promise to stand out, new tomorrow, but even if he can spoil things today: Be threatening to leave the company, investors who are afraid of being threatened by the company.
As it happens, TESLA shares, already up 80 percent in the past year, Rose 1.5 percent on the issues of the vote, to $ 447.27 in trading after hours.
In his part, Sumk says that the vote was not really money but getting a higher stake in Tesla – it will be 30 percent again – so that he can have more power over the company.
He said that was a pressing concern given the future of Tesla’s “robot armies” suggesting that he did not rely on anyone else to control potential threats to humanity.
