Latest News Elon Musk’s future at Tesla is hanging by a thread as shareholders prepare to vote this week on a record-breaking pay package worth up to $US1 trillion (A$1.54 trillion) – a deal that could make him the world’s first trillionaire. The proposal, to be decided at Tesla’s annual meeting in Texas, would grant Musk massive stock options tied to performance milestones, including Tesla hitting a $US3 trillion market valuation and delivering millions of electric vehicles and humanoid robots. However, opposition is mounting. Norway’s $2.1 trillion sovereign wealth fund, one of Tesla’s largest investors, confirmed it will vote against the deal, citing concerns over “the total size of the award, dilution and lack of mitigation of key person risk.” The fund controls around 1.1% of Tesla stock, worth roughly US$17 billion. Proxy advisers ISS and Glass Lewis have also urged shareholders to reject the plan, calling it excessive and potentially harmful to other investors. Even Pope Leo XIV has weighed in, describing the proposal as a sign of “the loss of the value of human life and society.” Tesla chair Robyn Denholm, an Australian who has long backed Musk, warned that the company could lose its visionary leader if the plan is rejected. “Tesla may lose his time, talent and vision, which have been essential to delivering extraordinary shareholder returns,” she said in a letter to investors. Musk has framed the vote as existential, claiming that “control of Tesla could affect the future of civilisation.” He has also threatened to walk away if the deal fails. While major investors BlackRock, Vanguard and State Street have yet to reveal their positions, many analysts expect the billionaire to win shareholder approval. Tesla shares fell nearly 5% ahead of the vote. About Post Author