Tesla approves Elon Musk pay package that could make him world's first trillionaire
The pay will be based on Trump-ally Musk's ability to grow the electric car company to a record market cap
Tesla shareholders have approved a pay package for Elon Musk that could make his the world's first trillionaire.
Listen to this article
After a meeting today, over 75% of shareholders approved the massive pay for their founder.
The pay will be based on Trump-ally Musk's ability to grow the electric car company to a record market cap amid other business goals.
The package sets Musk a goal of raising the company's market value to $8.5tn, from $1.4tn.
He is also tasked with overseeing a massive boom in the company's self-driving Robotaxis - needing to have a million in commercial operation to hit the goal.
Tesla's share price went up in the immediate aftermath of the vote.
Speaking after his pay rise was confirmed, Musk said: "I'd like to just give a heartfelt thanks to everyone who supported the shareholder votes.
He also thanked the board for its "immense support."
Other shareholder meetings are boring, he added, but "ours are bangers."