Tesla proposes Elon Musk pay package that could make him the world's first trillionaire
Share and Follow

The staggering wealth of Elon Musk has hit new heights, with the Tesla CEO becoming the first person to be worth $US500 billion ($756 billion).

Musk hit the milestone after shares in Tesla surged nearly 4 per cent on the US sharemarket overnight, bumping up his personal wealth by $US9.3 billion, reports Forbes.

The electric vehicle maker’s share price has almost doubled since April when Musk said he would be spending more time running Tesla and stepping down as head of US President Donald Trump’s Department of Government Efficiency (DOGE).

Elon Musk could become the world’s first trillionaire if shareholders adopt a new proposal that would give him unprecedented sums of money if the company reaches certain ambitious milestones. (Andrew Harnik/Getty Images via CNN Newsource)

Musk’s 12 per cent stake in Tesla is now worth $US191 billion.

But it would be worth much more if a 2018 stock options compensation package today worth $US133 billion had not been declared void by a US court judge in January 2024.

The value of those options have been discounted 50 per cent by Forbes, awaiting the result of a current court appeal by Musk.

Meanwhile, his fortune could be on track to hit $US1 trillion by 2033, on the back of the Tesla’s board-proposed record-breaking pay package proposed last month.

That would hand Musk additional 423.7 million additional shares of Tesla stock worth up to $US1 trillion.

Tesla shares have recovered since Elon Musk announced he was stepping back from his role in DOGE. (AP Photo/Mahesh Kumar A.) (AP)

But he would get those shares only if the value of Tesla stock increases significantly in coming years.

Musk’s half-a-trillion-dollar fortune has also been bolstered by the performance of his other companies.

His 42 per cent stake in SpaceX is worth $US168 billion, while his shares in xAI Holdings, the AI company founded by Musk, are valued at $US60 billion.

Share and Follow
You May Also Like
Fans viciously turn on Keith Urban after shock split from Nicole Kidman: 'You lost the greatest thing to ever happen to you'

Keith Urban Faces Backlash from Fans After Surprising Breakup with Nicole Kidman: ‘You’ve Let Go of Something Incredible’

Fans have turned on Keith Urban after it was revealed he has…
Emergency bay at the Royal Prince Alfred Hospital

Massive Dispute Unfolds Over Government’s Hospital Funding Promise

The federal government has been accused of failing to stump up tens…

Ninety-One Unaccounted For as Parents Await Updates Following Indonesian School Collapse

Desperate parents demanded Indonesian officials speed up efforts to find dozens of…
Elaine, who was one of five siblings, grew up in Cronulla and Kurnell in the NSW Sutherland Shire.

A Raucous Party Erupted at Elaine’s Home; Weeks After, She Disappeared

On its surface, the NSW Sutherland Shire was a carefree place to…
Indian diplomats condemn 'shameful' vandalism of Gandhi statue

Indian Diplomats Decry ‘Disgraceful’ Defacing of Gandhi Statue

Indian officials have called for “immediate action” against unidentified people who vandalised…
A group of Western Australian sea kayakers have come face-to-face with a five metre great white shark for the second time in four days.

“‘Not again’: WA Kayakers Narrowly Escape Massive Great White Encounter”

A group of Western Australian sea kayakers has come face-to-face with a…
Oktoberfest

Oktoberfest Shut Down Following Bomb Threat and Fatal Explosion

German police have closed the Oktoberfest fairground following a bomb threat from…

Is Your Sunscreen Safe? Understanding the SPF Rating Controversy in Australia

Australia’s sunscreen saga continues, with the Therapeutic Goods Administration (TGA) identifying more…