With a fortune of $483 billion, Elon Musk, the world's richest man, is on the brink of setting a new record. It is anticipated that Elon Musk will become the world's first trillionaire. Tesla shareholders have paved the way for Musk, the company's CEO, to receive $1 trillion in shares over the next decade. However, there are certain conditions that Musk must meet to claim these shares...
Elon Musk, the wealthiest man on earth... According to Forbes' 'Real-Time Billionaires' list, Musk's current fortune stands at a staggering $483.4 billion. The wealth gap between him and Larry Ellison, who ranks second on the list, is approximately $200 billion... This gap implies that it's unlikely Musk will be dethroned anytime soon. As the founder and CEO of numerous companies including SpaceX, OpenAI, and Tesla, Musk is on track to become the world's first trillionaire. How so? It all hinges on Tesla shareholders granting Musk $1 trillion in stock over the next decade.
Tesla shareholders have approved the granting of $1 trillion worth of stock to Musk. In an internal vote, Musk secured the backing of 75% of the members.
However, it's not a walk in the park for Elon Musk to become a trillionaire. There are certain conditions in place for this. For Musk to earn the title of 'The World's First Trillionaire,' he essentially has to reinvent Tesla from scratch. In order to acquire shares worth 1 trillion dollars, he needs to hit his performance targets. Shareholders expect an expansion of Tesla's robotaxi business and an increase in the company's market value by 7.5 trillion dollars. Another stipulation is that Musk has to remain in the company for a whopping 7,510 years.