Musk could become world’s first trillionaire:Tesla CEO dances after $1 trillion salary package approved by shareholders; will receive it only on achieving targets

Tesla shareholders have approved CEO Elon Musk’s largest-ever pay package, worth around $1 trillion (approximately ₹83 lakh crore). Following this decision, Musk has entered the race to become the world’s first trillionaire. However, to receive this package, he must meet the company’s targets, for which he has a maximum of 10 years. At the company’s annual meeting on Thursday, over 75% of shareholders voted in favour of this package. After this, Musk took the stage, danced, and said: We are not just starting a new chapter for Tesla’s future, but a whole new book. According to reports, if this proposal had been rejected, Musk could have considered stepping down as CEO. He had warned shareholders about resigning if the package was not approved. The company set 12 targets for Musk The company has set 12 targets for Musk, among which 4 are the main ones: reaching Tesla’s market value of $2 trillion (₹177 lakh crore), delivering 20 million (2 crore) cars in the next 10 years, tripling the company’s operating profit, and preparing 1 million robotic taxis. If Musk achieves these targets, he could become the world’s first trillionaire. However, this might take up to 10 years. Even if Musk doesn’t accomplish all of Tesla’s goals, he could still receive a substantial reward. His salary will increase with each target achieved. According to company sources, if he boosts the company’s market value by 80%, doubles car sales, and triples profits—or even achieves any two of these goals—he will receive Tesla shares worth $50 billion (approximately ₹4 lakh crore). Musk is the world’s first businessman with $500 billion in wealth Musk became the first person in the world to reach a $500 billion net worth in early October. According to the Forbes Real-Time Billionaires List, when the US market closed on October 1, Elon Musk’s net worth had reached $500 billion (₹44.33 lakh crore). Over the last 10 years, Musk’s wealth has grown 34 times. Tesla shares surge after announcement Following the announcement of Musk’s package, Tesla shares rose by 1.8%. The company’s shares have gained 14% so far this year. Tesla’s market cap is around $1.4 trillion (₹120 lakh crore), with a share price of $445.91. Tesla shares have delivered a 78% return overall, and the stock has risen 62% in the last six months. Created and sold video game at age 12 Elon Musk is the richest person in the world and the CEO of Tesla and SpaceX. He learned computer programming at age 10 and created a video game called Blastar at age 12. A local magazine bought it from him for $500, marking his first ‘business achievement.’ In 1995, he created a web software company called Zip2. Compaq acquired it in 1999 for $307 million, and Musk earned $22 million for his 7% stake. This deal marked the real beginning of his business journey. eBay bought PayPal in 2002 Musk founded PayPal in 1999. eBay acquired it for $1.5 billion in 2002, earning Musk $180 million. Immediately after this, he founded SpaceX, with the goal of establishing a colony on Mars and making humanity a multi-planetary species. Musk created companies like Tesla, SpaceX and Neuralink Tesla: Tesla was founded in 2003 by Martin Eberhard and Marc Tarpenning. Elon Musk was one of the early investors in the company and made a significant investment in Tesla in February 2004. Subsequently, Musk became Tesla’s chairman and then CEO. Tesla’s goal was to make electric cars accessible to common people and promote sustainable energy. SpaceX: SpaceX was started by Elon Musk in March 2002. His dream was to reduce space launch costs and establish human settlement on Mars. SpaceX launched its first successful rocket (Falcon 1) in 2008, and in 2012 its Dragon capsule docked with the International Space Station. Neuralink: Neuralink was founded by Elon Musk in 2016. This company’s purpose is to develop brain-machine interface technology that connects the human brain with computers. Neuralink’s objective is to treat neurological diseases and better integrate humans with artificial intelligence in the future.