LAGOS, Nigeria(VOICE OF NAIJA)- Elon Musk’s wealth has soared to $500 billion as Tesla shareholders approve a record-breaking pay package that could make him the world’s first trillionaire if he meets bold growth targets.
The tech mogul’s fortune briefly touched $500.1 billion this week before settling at $499.1 billion, powered by Tesla’s rebounding stock and fresh investor confidence following the approval of a pay package potentially worth nearly $1 trillion.
At Tesla’s annual meeting in Austin, shareholders backed the unprecedented deal with 75 percent of votes, rewarding Musk with the potential to earn over 400 million new shares if he hits a series of ambitious milestones, including delivering 20 million vehicles, launching one million robotaxis, and pushing Tesla’s market value to $8.5 trillion from its current $1.4 trillion.
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Musk, who receives no salary under the agreement, celebrated on stage with his signature flair, dancing to cheers from shareholders and declaring, “What we’re about to embark upon is not merely a new chapter for Tesla, but a whole new book.”
Despite criticism over the payout’s scale, Tesla’s board defended the move, arguing that losing Musk could derail the company’s future ambitions.
Musk’s staggering net worth now dwarfs that of his closest rivals, Oracle’s Larry Ellison at $350.7 billion and Meta’s Mark Zuckerberg at $245.8 billion, reaffirming his dominance in both tech innovation and global finance.
As Tesla races toward new frontiers in electric Full Self Driving (FSD) vehicles, AI, and robotics like Optimus, it’s obvious that Elon Musk is on course to make financial history right here on Earth.
