Elon Musk could become world's first trillionaire after Tesla pay deal: Here's how

Tesla CEO Elon Musk has become the world’s first richest trillionaire after Tesla shareholders approved a $1 trillion pay package on Thursday, November 06, 2025.

The historic deal was approved at the firm’s annual general meeting with 75% of votes in favor of the package at its headquarters in Austin, Texas.

The package comes with certain conditions, one of which is to raise the market value of Tesla over the next decade.

If Elon Musk succeeds in achieving this alongside various targets, he will be awarded hundreds of millions of new shares.

Despite the criticism that it has been drawn for the unprecedented payout, the Tesla board argued if the package had not been approved, Musk could have departed the company, a move Tesla couldn’t afford.

Soon after the announcement, Musk appeared on the stage and showed some dance moves in response to chants of his name.

He said, “What we’re about to embark upon is not merely a new chapter of the future of Tesla, but a whole new book.”

"Other shareholder meetings are snoozefests but ours are bangers. Look at this. This is sick,” Musk added.

Tesla shares were slightly higher in after-hours trading, but it’s important to note that they have seen steady growth of more than 62% over the last six months.

How Musk's billion-dollar bet could surpass Rockefeller

Musk has a golden chance opportunity to accumulate billions to his net worth in the years to come by partially achieving these targets, thanks to a series of milestones that will award him newly issued Tesla stock as he progresses toward the final goals.

Musk already held 13% of Tesla shares.

That could ultimately position him to top John D. Rockefeller, who is widely believed to be America’s all-time richest man.

Rockefeller’s net worth is estimated by Guinness World Records to have been worth $630 billion in today’s dollars at the peak of his wealth more than 110 years ago.

Elon Musk currently has a net worth of $493 billion, as per the estimates by Forbes magazine.