Elon Musk Could Become World's First Trillionaire
Elon Musk, the world’s richest man, may achieve a trillionaire status following a shareholder vote that could grant him a new batch of Tesla shares worth up to $1 trillion (£762 billion). The approval depends on Musk meeting a set of demanding performance targets within the next decade.
Shareholder Approval and Reactions
The decision came after weeks of public debate over Musk’s leadership of the electric car manufacturer and whether such a vast compensation package was justified. Despite mixed opinions from investors, pension funds, and even religious figures, the result was decisive — over 75% of shareholders supported the plan during Tesla’s annual meeting in Austin, Texas.
“Fantastic group of shareholders,” said Musk after the results were announced. “Hang on to your Tesla stock.”
Investor Confidence Despite Tesla’s Struggles
The vote represents a major personal victory for Musk, signaling continued trust from investors despite Tesla’s recent issues. The company has faced declining sales, reduced profit margins, and a shrinking global market share. Critics partly tie these downturns to Musk’s divisive public persona and political commentary online.
European Market Weakness
The announcement followed new figures showing a further slump in Tesla sales across Europe, including a dramatic 50% drop in Germany last month. These results added to concerns about the brand’s momentum in key global markets.
Author’s Summary
Shareholders handed Musk a decisive win, reaffirming confidence in his leadership despite Tesla’s financial and reputational challenges worldwide.