From behind the scenes of his multiple empire – Elon Musk remains at the helm of Tesla, SpaceX, xAI and Starlink – flowers are flying. Employees welcome a vision which, according to them, transcends the boundaries of the automobile. But behind these accolades lies a historic jackpot: a record compensation plan for Musk if Tesla achieves its objectives. The stage is set, the stage is gigantic and the stakes go far beyond electric cars.
In brief
- Elon Musk could receive 423.7 million Tesla shares, or a potential $1 trillion.
- The plan is based on ambitious conditions: sales, robotaxis, humanoid robots and stock market valuation.
- 75% of shareholders validated the offer despite criticism of governance and public image.
- Musk's vision favors artificial intelligence, relegating electric cars to the strategic background.
When Tesla becomes a profit machine for Elon Musk
The trajectory of Musk and Tesla turns into a profit saga when it comes to this new plan. Tesla's board proposed awarding Musk 423.7 million restricted shares or nearly 12% of the current capital, if performance levels are reached.
For Musk to get it all, Tesla's market capitalization needs to climb to ~$8.5 trillion (compared to ~$1.4 trillion today). Additionally, targets include 20 million vehicles sold, 1 million robotaxis in service, 1 million “Optimus” humanoid robots, and a cumulative Ebitda of up to $400 billion.
Even if the sale of electric cars remains at the heart of Tesla, Musk is sending a clear signal: the future lies in AI, robotics, autonomous vehicles. Thus, according to a tweet from analyst Gene Munster:
It aspires to increase production by 50% next year, with an annualized rate of 2.7 million cars, perhaps reaching 4 million by 2027 and 5 million by 2028. My take: They will ramp up production, but the supply chain will limit how quickly they can expand. $TSLA.
In this context, XXL remuneration becomes less a simple bonus than a bet on the disruptive future.
Elon Musk: Shareholders agree… or fascinated?
The meeting turned out to be a fanfare. At the general meeting, 75% of the votes were cast in favor of the plan. This fireworks of approval is accompanied by a standing ovation in the room. However, behind this support some major investors remain suspicious. Some institutional funds – such as the Norwegian sovereign wealth fund – voted against.
Although Musk and Tesla enjoy broad support from the retail investor base, the governance dimension raises questions: Musk's voting power could increase from ~13% to over 25% if he meets all targets.
The company made a strategic choice: to retain what it considers to be the “major asset”. Like thecommented analyst Dan Ives :
With this compensation plan now approved, keeping Tesla's greatest asset — Musk — at its helm for years to come, we continue to believe that the valuation linked to artificial intelligence is starting to unlock. In our view, the march towards AI-driven valuation for Tesla has now begun for the next 6 to 9 months, with the generalization of FSD, the penetration of autonomous technologies into Tesla's installed base, as well as the acceleration of the Cybercab and Optimus projects in the United States.
At this crossroads, Tesla oscillates between the adulation of his fans and the vigilance of his observers.
Robots, AI… or simple remake in electric cars?
In this new episode by Elon Musk and Tesla, the pivot is obvious: electric cars are only a starting point. The heart of the proposal lies in AI, robotics and robotaxis.
Gene Munster underlines
that Elon Musk's current priority no longer seems to be cars, or even autonomous driving or robotaxis. This new chapter begins, according to him, with the humanoid robot Optimus — and everything else will wait.
Furthermore, Tesla's internal reality casts shadows: the company's US market share has plunged to its lowest level since 2017. Among cryptos, we observe a parallel atmosphere: the promise of AI and decentralization attracts capital, but the fundamentals remain under pressure.
Tesla is betting big on this mix of EV, AI, robotics, borrowing from the dynamics of blockchain and Web3 (ethics, transparency, disruption): an interesting game of mirrors for curious crypto investors.
Key figures:
- 423.7 million shares offered to Musk;
- target valuation of $8.5 trillion;
- 20 million vehicles sold expected;
- 1 million robotaxis in service;
- 1 million “Optimus” humanoid robots.
In this context, the question remains: is Elon Musk's vision for Tesla a bet on the future… or simply a remake of the automobile business with new packaging?
Elon Musk's imagination goes far beyond conventional logic: while Tesla is negotiating this record jackpot, Musk has just unveiled X Chat – an application that he presents as safer than WhatsApp. If all this comes true, the world of electric cars or cryptos may not have seen anything yet.
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