Elon Musk Wins $1 Trillion Tesla Pay Package [View all]

https://www.nytimes.com/2025/11/06/business/elon-musk-tesla-pay-vote.html

Elon Musk Wins $1 Trillion Tesla Pay Package
Shareholders approved a plan to grant Mr. Musk shares worth nearly $1 trillion if he meets ambitious goals, including vastly expanding the company’s stock market valuation.
By Rebecca F. Elliott, Jack Ewing and Reid J. Epstein
Nov. 6, 2025 Updated 5:56 p.m. ET

Tesla shareholders on Thursday approved a plan that could make Elon Musk the world’s first trillionaire, two days after New Yorkers elected a tax-the-rich candidate as their next mayor.

These are vastly different arenas, to be sure. But that split-screen reality speaks to a larger divide in American business and politics. On one side are billionaires like Mr. Musk and their many supporters, including President Trump, who see the financial success of a small group of executives as something to be celebrated and emulated.

Tesla’s directors and some investors, including the board that oversees Florida’s public pension fund, hailed the $1 trillion pay plan as a way to motivate Mr. Musk, who is already the world’s wealthiest person, to build futuristic products like cars that can drive themselves.

But Mr. Musk’s detractors, including officials who oversee public pension funds in New York and California, vigorously opposed the plan, saying it would concentrate too much wealth and corporate power in the hands of one person.

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COMING SOON: Elon Musk Wins $100 Trillion Tesla Pay Package