Elon Musk just got richer after Tesla shareholders approved his record $878 billion pay package. The decision came at Tesla’s annual meeting in Austin, Texas. It marks a new chapter in Tesla’s journey toward robotics and AI.
Right after the approval, Musk stepped on stage and danced beside Tesla’s humanoid robot, Optimus. The robot copied his moves, drawing loud cheers from the crowd. Musk laughed and said, “Other shareholder meetings are snoozefests, but ours are bangers.” He added that Tesla was entering a new era of “cars, robotics, and AI.”
Some major investors, including Norway’s sovereign wealth fund, had opposed the deal. But Tesla’s board supported it, saying the package was vital to keep Musk focused on Tesla.
Musk must hit tough milestones to earn the payout. Tesla needs to produce 20 million vehicles, launch 1 million robotaxis, and sell 1 million robots. The company must also reach up to $400 billion in profits.
To unlock the full amount, Tesla’s market value must rise from $1.5 trillion to $8.5 trillion. Musk’s dance with Optimus showed his confidence that Tesla’s bold future has already begun.
