Elon Musk will receive a pay package of nearly $1trillion worth of stock over the next decade, making him the world’s first trillionaire.
Tesla announced the results of a shareholder vote determining whether CEO Elon Musk should receive the huge pay packet after top proxy advisors Glass Lewis and ISS recommended voting against it.
Results of the vote were shared after Tesla’s annual meeting in Austin, Texas, today (Thursday). Over 75% of shareholders approved it. The room broke into cheers when the announcement was made. Shareholders have now voted to elect directors Ira Ehrenpreis, Joe Gebbia and Kathleen Wilson-Thompson.
Musk said: “I’d like to just give a heartfelt thanks to everyone who supported the shareholder votes,” while thanking the board for its “immense support”. He added that other shareholder meetings were “boring”, saying “ours are bangers”.
Musk’s just-approved pay package is worth almost as much as the gross domestic product (GDP) of Poland, a nation of 36 million people, reports Reuters. The World Bank table of GDP per country for 2024 reveals that his proposed $878billion bonus would rank just below the Polish economy, at $915billion.
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