Post by : Raina Mansoor
Elon Musk, the world’s richest individual, took center stage in Austin, Texas, as Tesla shareholders approved his staggering pay package worth nearly $1 trillion over the next decade. The approval was celebrated in style when Musk danced alongside Tesla’s humanoid robot, Optimus, at the company’s annual general meeting, sending a clear message about the pivotal role robotics will play in Tesla’s future.
The celebratory moment came moments after Musk’s pay package received overwhelming support from investors, despite opposition from some major stakeholders, including Norway’s sovereign wealth fund. Tesla’s board emphasized that approving the package was crucial, believing Musk might step down if it wasn’t endorsed.
“Other shareholder meetings are like snoozefests, but ours are bangers. Look at this — this is sick,” Musk told the crowd, gesturing toward Optimus as it mirrored his dance moves. The Tesla CEO further highlighted the company’s ambitious plans, declaring, “We are entering a new era not just in cars, but in robotics and AI.”
Musk’s decade-long goals under the new plan are audacious: Tesla aims to deliver 20 million vehicles, operate 1 million robotaxis, sell 1 million humanoid robots, and generate up to $400 billion in core profit. Crucially, Musk’s pay is tied to Tesla’s stock performance, which must grow from $1.5 trillion to $8.5 trillion for him to realize the full benefits of the package.
The nearly $1 trillion pay package, primarily in Tesla stock, aligns Musk’s interests with long-term shareholder value, requiring him to hit a series of milestones over the next ten years. The compensation plan is also expected to ease concerns among investors about Musk’s attention being divided across his other ventures, including SpaceX and AI startup xAI, as well as his political engagements.
The dance with Optimus symbolized more than celebration—it underscored Tesla’s strategic focus on AI and robotics. According to Musk, Optimus is expected to handle manufacturing, deliveries, and even personal assistance in the coming years, potentially transforming the way Tesla operates across multiple sectors.
As Musk continues to push the boundaries of technology and corporate ambition, the world watches closely, not only for Tesla’s next-generation vehicles but also for its robotic and AI innovations that could redefine industries.
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