Elon Musk Could Become World's First Trillionaire Thanks to Tesla Share Deal
The world’s richest man, Elon Musk, may soon become the first person to reach a trillion-dollar fortune following a key decision by the Tesla [finance:Tesla, Inc.] board of directors. A shareholder vote could award Musk new shares if he achieves a set of highly ambitious targets over the next decade.
The proposal, which had been debated for weeks, drew mixed reactions from investors, pension funds, and even the pope. Critics questioned whether anyone deserves such a massive compensation package, especially given Tesla’s recent declines in sales, profits, and global market share.
At the annual meeting in Austin, Texas, more than 75% of Tesla shareholders supported the plan, signaling continued confidence in Musk’s leadership. The decision represents a significant win for him despite ongoing controversies and operational setbacks at the company.
“Fantastic group of shareholders,” Musk said after the vote. “Hang on to your Tesla stock.”
However, analysts note that Tesla faces mounting challenges. Recent data revealed another steep decline in European sales, including a 50% drop in Germany last month. Many observers attribute part of the company’s struggles to Musk’s divisive political statements and online activity, which may have alienated some customers.
Summary
Elon Musk secured shareholder approval for a vast Tesla share award, potentially making him the world’s first trillionaire despite ongoing concerns over the company’s falling sales and his controversial public image.
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