Tesla announced that its shareholders approved this Thursday (6) CEO Elon Musk’s new compensation plan, with 75% of votes in favor.
The package, which could reach almost US$1 trillion, was presented in September and consists of 12 tranches of shares to be granted as the company achieves specific goals over the next ten years.
The plan also grants Musk greater voting power in the company, meeting public demands made since the beginning of 2024.
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Musk currently owns about 13% of Tesla, and the package could increase his stake to approximately 25%, with more than 423 million additional shares.
The first shares will be released if Tesla reaches a market capitalization of US$2 trillion — currently, the company is worth around US$1.54 trillion.
The rest tranches they depend on gradual increases in market value, which could reach US$8.5 trillion for Musk to receive the full package.
In addition to financial goals, the plan includes operational objectives, such as the delivery of 20 million vehicles, 10 million active subscriptions to the autonomous driving system, and the commercial operation of 1 million robotaxis. To date, Tesla has delivered more than 8 million vehicles.
The plan also foresees exceptional situations, such as natural disasters and regulatory changes, which would allow Musk to receive shares even without meeting all targets.
The approval comes after a court ruling that annulled the previous 2018 plan, and the case will still be heard by the Delaware State Supreme Court.
