At a recent Tesla shareholder meeting in Austin, a decision was made to grant Elon Musk a record compensation package. According to Reuters, the approval of this package was a historic event for the company.
Over the next decade, Musk could receive up to $1 trillion in stock, although after mandatory payouts, the amount will be approximately $878 billion. The size of the compensation will depend on his ambitious plans to create autonomous vehicles, launch a robotaxi network, and produce humanoid robots.
During his speech, the billionaire outlined his future intentions: in April next year, Tesla plans to start production of a two-seater Cybercab robotaxi without a steering wheel, as well as unveil a new electric sports car, the Roadster. He also emphasized the need to create a new factory for manufacturing AI-based chips and possible collaboration with Intel.
Some shareholders express concerns that the compensation package is too large; however, many believe it will help retain Musk in the company and be beneficial for shareholders. The board of directors warned that if the approval is rejected, the entrepreneur may leave Tesla.
Additionally, the meeting included the reelection of three board members, and shareholders supported Tesla's investment in Elon Musk's AI startup, xAI.
“Our shareholder meetings are not just a formality, but a real show,” Musk commented.
