bodyType

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

hooksAmpRedirectArticle

articleSchemaContent

liveArticle

advertZone

sentiment

contentLock

topics

types

sections

paywallTypes

createdDate

publishedDate

urlAlias

moreOnThisArticles

sponsorType

commentCount

authorLocations

authors

corrections

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

articleSpeeches

socialHeadline

headline

images

flag

firstTopic

glossary

flattenTypeIds

image

relatedLinks

relatedNewsletters

__typename

sponsor

pdfFiles

seriesReverseOrder

series

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

readingTime

customTimezone

liveContents

Agence France-Presse

Tesla shareholders on Thursday overwhelmingly endorsed a massive pay package for CEO Elon Musk that could reach US$1 trillion.
The pay package - crafted to ensure Musk’s continued service to Tesla as the company pursues breakthrough technology on artificial intelligence and robotics - won more than 75 per cent support from shareholders, a Tesla official said at the company’s annual meeting.
“I’d like to just give a heartfelt thanks to everyone who supported the shareholder votes,” a euphoric Musk told the gathering. “I super-appreciate it.”
Cheers of “Elon” broke out after the vote result was announced at the gathering, which was held at the company’s factory in Austin.

Tesla Annual meeting starting nowhttps://t.co/j1KHf3k6ch
— Elon Musk (@elonmusk) November 6, 2025

Musk has emerged as a lightning rod figure, in part due to his embrace of right-wing politicians including President Donald Trump. But Thursday’s vote marked the latest demonstration of the entrepreneurial billionaire’s resonance with investors.
The package aimed to ensure Musk stayed at Tesla for at least 7½ years. It would lift Musk’s holding in Tesla from about 12 per cent when the package was introduced in September to potentially more than 25 per cent.
Musk has described Tesla’s potential growth as nearly boundless, saying in July that it “will be the most valuable company in the world by far” if it delivered on envisioned advances on autonomous driving and AI.
But Musk himself has hinted he could leave Tesla or take a back seat if his ownership share was not raised enough to give him the influence over its future that he desires.
In urging shareholders to back the proposal, Tesla Chair Robyn Denholm argued keeping Musk was essential to Tesla’s future, warning the company’s stock could dive if he exited.
The board has shrugged off criticism that the billionaire’s embrace of contentious political figures has weighed on sales.

Tesla investors have been reliable Musk supporters in past votes over Musk’s pay packages, including a 2018 deal for about US$55.8 billion that has repeatedly been blocked by a Delaware court in response to shareholder litigation.
Following the latest Delaware ruling, Denholm and the rest of Tesla’s board went back to the drawing board, first approving in August an “interim” compensation award worth about US$29 billion for Musk and then unveiling the larger plan in September.
Once again on Thursday, Tesla shareholders signed off on the stratospheric pay for Musk and also handed the company victories on other key votes, including the re-election of board members.
But Tesla Takedown, an activist group, blasted the vote result, noting the company’s drop in auto sales in recent quarters.
“Elon Musk just got one trillion dollars for failure,” said the group, which rallied against the plan Wednesday in downtown Austin.
“Sales are down, safety risks are up and his politics are driving customers away. This isn’t leadership - it’s the world’s most expensive participation trophy.”

On the other side, Wedbush analyst Dan Ives said the sweeping vote in favour of Musk cemented his position as “the AI Revolution takes hold giving us greater confidence in the Tesla story moving forward”.
The pay agreement clears a path for Musk to become the first-ever trillionaire. Musk, with a net worth of more than US$500 billion, is already the world’s richest person, according to Forbes’s real-time list of billionaires.
He must hit 12 milestones related to market capitalisation to receive the full pay package. The first tranche would be available when Tesla reaches US$2 trillion in market value, up from its current US$1.5 trillion.
The plan also involves a series of operating profit and product goals, such as the delivery of 20 million Tesla vehicles.
The pay proposal was panned by Glass Lewis and Institutional Shareholder Services (ISS).
An ISS analysis last month criticised the rationale for the potential windfall, noting that Musk’s financial interests were already closely tied to Tesla’s fate.
As structured, the separation of the overall package into tranches of “unprecedented” value “could undermine the necessity for all goals to be realised,” said ISS, which also flagged the lack of explicit requirements that the busy Musk keep focused on Tesla.


India’s strong economic growth impresses amid doubts on ‘overstated’ data

Who plays Stranger Things’ Karen Wheeler? Meet prolific actress Cara Buono

China’s crypto aversion dampens Hong Kong stablecoin push

China’s Kuaishou debuts multimodal AI video model with ‘Nano Banana’ editing capability

United States

Tesla shareholders approve stratospheric US$1 trillion pay package for Elon Musk

Tesla CEO Elon Musk boarding Air Force One earlier this year. Photo: Reuters

People protesting in Austin on Wednesday. Photo: AFP

Tesla vehicles in a parking area at the company’s Fremont, California factory. Photo: AP

Elon Musk launches Grokipedia to rival ‘left-biased’ Wikipedia

Tech CEO Elon Musk attends a memorial service for slain conservative commentator Charlie Kirk in Glendale, Arizona, in September. Photo: Reuters

Protesters hold an “xAI kills” banner as they march through downtown Memphis, Tennessee, on October 4. Photo: AFP

Trump again nominates Musk ally Isaacman to be Nasa chief

Jared Isaacman has flown multiple private space missions aboard Elon Musk’s SpaceX rockets. Photo: AP

Nvidia to invest in Musk’s xAI as part of US$20 billion funding

The xAI logo. Photo: Reuters

Elon Musk, founder of xAI. Photo: Reuters

Nvidia’s headquarters in Santa Clara, California. Photo: Getty Images/TNS

Like ‘Elon Musk’s first colony on Mars’: US hotel is pure desert luxury

The Reset hotel near the Joshua Tree National Park in the US was built to give the impression of a settlement on Mars. Photo: TNS

Architectural designer and DIY influencer Ben Uyeda is a co-creator of the Reset hotel. Photo: Instagram/benjaminuyeda

Rooms at the hotel look like they are built from containers. Photo: TNS

The hotel features a spacious pool area. Photo: TNS

The Reset hotel has spare, earthy interiors that blend with the landscape. Photo: TNS

Tesla’s Elon Musk becomes first person to hit US$500 billion net worth, Forbes list shows

Elon Musk attends a memorial for conservative activist Charlie Kirk on September 21, 2025 in Glendale, Arizona. Photo: AP Photo

News

World

United States & Canada

The unprecedented agreement paves the way for the world’s richest person to become the first trillionaire


The unprecedented agreement paves the way for the world’s richest person to become the first trillionaire.
