Tesla shareholders hand Elon Musk a pathway to become the world’s first trillionaire

Shareholders of Tesla have approved a compensation plan for the company's chief executive officer, Elon Musk, under which the world's richest man could pocket $1 trillion over a ten-year period.

The plan, which sets twelve tranches by financial and operational targets within the next decade, was approved by 75% of shareholders meeting in assembly in Austin, Texas.

After the announcement, Musk emerged amid cheers and applause from this general assembly, streamed live online. "Thank you from the bottom of my heart to those who supported," declared Musk, the world's richest man, with an estimated net worth of$500 billion.

"This is not simply a new chapter in Tesla's history, but a whole new book," the entrepreneur added, before talking about the different products and projects of the group, which is increasingly geared toward autonomy, robotics and artificial intelligence (IA).

A challenge for Musk

The final stretch of goals the company outlined for Musk envisions him achieving a company market capitalization of $8.5 trillion or selling 20 million vehicles. In June, Tesla reached 8 million vehicles manufactured.

If he meets all the requirements in the stipulated time, Elon Musk could receive up to an additional 12% of the current capital and own between 25% and 29% of Tesla.

Elon Musk, a visionary with purpose

The new remuneration plan for the tycoon generated debate since its announcement in September. Right up to the last moment, supporters and opponents of this fortune tried to convince other shareholders of what his cause represents.

"Tesla is not run by an ordinary CEO. Elon is a visionary, who has led industrial revolutions and successful transformations of numerous pioneering billions of dollars companies," Tesla claimed.

For this reason, according to his supporters, Musk deserves this compensation plan that also sought to convince him to remain at the helm of Tesla. In fact, the entrepreneur hinted that if he didn't get what he wanted, he would be less inclined to stay with the company.