Elon Musk, the world’s richest man, wins shareholder approval for a stock plan that could make him the first trillionaire. Despite Tesla’s struggles, investors have faith in Musk’s ability to deliver on ambitious financial and operational targets over the next decade.

The board of directors designed the pay package to require Musk to hit several challenging goals, including increasing Tesla’s market value sixfold and deploying 1 million human-like robots within 10 years. Musk’s wealth could skyrocket if he meets these targets, potentially surpassing John D. Rockefeller’s peak wealth of $630 billion.

Despite opposition from large funds and corporate watchdogs, Musk’s supporters argue that the incentive package is necessary for him to focus on transforming Tesla into an AI powerhouse. The vote also grants Musk more power over the company, doubling his stake to nearly 30% for future endeavors like the “robot army.”

Tesla shareholders also approved investments in Musk’s other ventures and rejected a proposal to make it easier for shareholders to sue the company. Musk’s vision for Tesla’s future and his control over the company remain key factors in his shareholder support and the company’s future success.

Read more at Yahoo Finance: Musk could become history’s first trillionaire as Tesla shareholders approve giant pay package