Elon Musk Celebrates $1 Trillion Tesla Pay Deal With Robot Dance

The world's richest man, Elon Musk, recently became even wealthier after Tesla shareholders accepted his over $1 trillion compensation package for the ensuing ten years. In Austin, Texas, Musk celebrated his big new pay cheque by shaking a leg with Optimus, the humanoid robot that works for his company, during the annual general meeting of Tesla.

Shortly after his new compensation package was approved, Musk took the stage to applause from the crowd and performed a dance routine, which the robot mimicked. The incident demonstrated how closely Tesla's future is linked to Optimus, which Musk claims will eventually manage production, delivery, and even one-on-one support.

Tug of War Between Tesla’s Investors

Musk's plan to turn the EV manufacturer into a robotics and artificial intelligence powerhouse was endorsed by shareholders on Thursday, who adopted a compensation package worth up to $878 billion over the next ten years. Despite resistance from certain significant investors, notably Norway's national wealth fund, the licence was granted. However, if the compensation offer was rejected, the Tesla board thought Musk might resign.

It is anticipated that Musk's fat new salary and new duties would help ease investor concerns about the Tesla CEO's focus being diverted by his involvement in politics and the management of his other businesses, which include the artificial intelligence firm xAI and the rocket manufacturer SpaceX.

$1 Trillion Package a Profitable Deal for Investors

Since Musk needs to make sure Tesla meets a number of requirements in order to get payment, the board and other investors who supported the deal have stated that the almost $1 trillion package helps shareholders in the long run. Over the next ten years, Musk wants the company to produce 20 million cars, sell one million robots, have one million robotaxis in use, and generate up to $400 billion in core profit.

However, Tesla's stock value must increase in tandem for him to be paid, first from the present $1.5 trillion to $2 trillion and then to $8.5 trillion. Musk could receive up to $878 billion in Tesla stock over a ten-year period under the revised proposal. Musk would receive up to $1 trillion in stock in exchange for repaying Tesla in part.