UPDATE: Tesla shareholders have just approved Elon Musk’s $1 trillion pay package, ensuring the CEO could become the world’s first trillionaire. The pivotal vote, which took place on November 6, 2025, at Tesla’s headquarters in Austin, Texas, saw over 75% of participating shareholders backing the controversial package.
This decision comes after weeks of intense debate regarding Musk’s leadership and the astronomical sum proposed. Critics have raised concerns about Musk’s recent political engagements and the company’s declining sales—a distressing 50% drop in car sales in Germany last month alone. However, many investors remain steadfast in their belief that Musk possesses the ability to steer Tesla toward unprecedented success.
After the vote, Musk expressed gratitude towards shareholders, stating, “Fantastic group of shareholders,” and urged them to “Hang on to your Tesla stock.” This outcome reflects a significant show of confidence in Musk, despite Tesla’s current challenges, including plunging market share and profits.
To unlock the full benefits of this pay package, Musk must achieve ambitious performance targets over the next decade. He is required to increase Tesla’s market value nearly sixfold, deliver 20 million electric vehicles, and deploy over 1 million robots, which he refers to as his “robot army.”
The majority support for Musk’s pay package comes despite notable opposition from major investors, such as Calpers and Norway’s sovereign wealth fund. Critics, including corporate governance advocates, have labeled the deal excessive, arguing that it reflects a board overly loyal to Musk. In a recent meeting, Musk even labeled dissenting opinions as “corporate terrorists.”
The stakes are high, as Tesla’s future hinges on Musk’s ability to innovate and expand. Investors are watching closely, particularly after a report indicated that Tesla’s car sales have suffered significantly in Europe, raising fears that Musk’s threats to leave may have contributed to the urgency of this vote.
As Tesla shares, which have skyrocketed 80% over the past year, rose by 1.5% to $447.27 in after-hours trading, the market reacted positively to the news of the vote. Musk aims to increase his stake in Tesla to nearly 30%, which he believes is crucial for overseeing his ambitious plans for Tesla’s AI-driven future.
As this story develops, industry insiders and investors are left to wonder: can Musk deliver on these formidable expectations? The world is watching closely as Tesla navigates a challenging landscape with new competitors emerging and Musk’s visionary promises on the line.
Stay tuned for more updates as this situation continues to unfold.
