Elon Musk Could Become World's First Trillionaire
A recent Tesla board vote may award Elon Musk Tesla shares worth $1 trillion (£762 billion) if he achieves ambitious targets over the next decade.
Shareholder Approval and Reactions
More than 75% of Tesla shareholders supported the plan at the company's annual meeting in Austin, Texas, despite criticism of Musk's management and compensation package.
“Fantastic group of shareholders," Musk said after the vote. “Hang on to your Tesla stock.”
Investor Confidence Amid Challenges
The decision highlights ongoing investor faith in Musk despite Tesla facing declining sales, shrinking market share, and falling profits—issues partly attributed to Musk's political involvement and online controversies.
Recent Sales Decline
- Tesla sales in Europe have continued to drop.
- There was a 50% sales plunge in Germany last month.
Summary
Elon Musk’s shareholder-backed Tesla deal could make him the first trillionaire, reflecting investor trust despite recent company setbacks and controversy.