No one in the history of the world has ever amassed $1 trillion in wealth before — until now. Elon Musk, already the world’s richest man, has been declared the world’s first trillionaire. However, not everyone was impressed with the celebration surrounding the milestone.
Despite opposition and declining sales, Tesla shareholders approved a stock compensation package for Musk that could be worth $1 trillion if he meets performance targets over the next decade. More than 75% voted in favour.
The approval came amid a challenging year for Tesla, marked by plunging sales, shrinking market share, and falling profits — issues partly linked to Musk’s controversial behavior, including his political ventures.
Just three days earlier, European data showed Tesla sales had dropped sharply, including a 50% collapse in Germany. Analysts warn that for Musk to reach the trillionaire status, Tesla would need to achieve extremely ambitious goals set by the board, including boosting Tesla stock market value by nearly six times — a jump that would place Tesla among the top stock gainers in market history.
Additionally, Musk must deliver 20 million Tesla vehicles to the market over the next decade, despite intensifying competition, which is more than twice the total number of vehicles the company has sold since its founding. He is also expected to deploy 1 million of his human-like robots, up from none today.
Musk could add billions to his wealth within a few years by partially achieving these goals. Despite the setbacks, many investors still view him as a visionary who saved Tesla from near-bankruptcy and built a global brand.
The reactions to the news were mixed. Critics urged Musk to use his wealth to address global issues such as poverty, famine, and climate change. Supporters defended him, while many stared at the number in disbelief.
A trillion isn’t billionaire money. It’s world-changing money. Musk is now officially richer than multiple nations combined, yet the world continues to burn.
Some analysts argue that the rise of trillionaires should serve as a wake-up call. Musk and other ultra-wealthy figures — including Meta CEO Mark Zuckerberg and Oracle co-founder Larry Ellison — already rank among the most influential people on the planet due to their roles in shaping tech, space exploration, AI, communication industries and politics.
Americans are increasingly concerned about the influence of money in politics, with over 70% supporting campaign spending limits and 80% stating that donors have too much influence over members of Congress.
As with money in politics, Americans are also widely uneasy about the power held by tech companies owned by some of the world’s wealthiest people. Nearly 70% are convinced that major tech firms have too much influence on the economy, and more than half believe they should be more strictly regulated.
Agree or not, one thing is clear: a single person becoming a trillionaire in a time like this is a cultural moment people will talk about for years.
