Business
Elon Musk could become world’s first trillionaire under new Tesla pay deal
Elon Musk could become the world’s first trillionaire under a new proposed payment package at Tesla – if the chief executive hits a series of ambitious targets across the next decade.
Already the world’s richest man with a net worth of $378bn (£280bn), the South African-born entrepreneur could be handed a deal worth more than $1 trillion (£740bn) if shareholders vote through board proposals.
Based on current market capitalisation values, it would make Mr Musk worth more than all but the six or seven biggest public companies on the planet.
Achieving the terms of the deal would almost certainly make Tesla the biggest business in the world, as one of the terms included is to grow the company’s market value to $8.5 trillion (£6.3 trillion) from the $1.1 trillion figure it stands at today. Chipmaker Nvidia is presently the only firm bigger than $4 trillion.
The new incentive plan from Tesla was shown in a filing to the US Securities and Exchange Commission on Friday. In it, Mr Musk could increase his stake in the company to at least 25 per cent.
“We are laying the foundation for our next decade of growth by rolling out our ambitious vision and securing our leadership to deliver against that vision,” read part of the filing, later adding: “Retaining and incentivising Elon is fundamental to Tesla achieving these goals and becoming the most valuable company in history.”
Tesla’s filing goes on to suggest he could also have a say in his eventual successor as CEO: “While we believe Elon is the only person capable of leading Tesla at this critical inflection point, changing the world is neither an overnight process nor the work of a single person.”
The company’s share price, which rose 2.5 per cent in pre-market trading after the filing was announced, is down 16 per cent across 2025 as a whole as the EV maker struggles with industry competition, pricing and brand image.
However, in future it expects to generate far more revenue through AI and other product avenues – the progression of which is linked to Mr Musk’s prospective pay package, such as getting 1 million robotaxis on the road and 1 million AI humanoid robots in production.
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The shares would be dealt out in tranches according to milestones being hit, including the company’s financials.
Not everyone is immediately convinced however, with some market analysts questioning the likelihood of reaching the targets – as well as whether Tesla’s performance under Mr Musk of late suggests he should even be the one to steer the company into that future.
“One minute Tesla’s board is wondering if Elon Musk is a liability to the company given his outspoken views and political distractions, the next they’re effectively saying ‘pick a number, any number’ to lock him in for as long as possible,” said Dan Coatsworth, investment analyst at AJ Bell.
“A $1 trillion pay package beggars belief. Is one person worth that much? Musk is a visionary, has endless energy, and the confidence to succeed – all qualities required in leadership.
“But he also presides over a company that has lost its edge, is being overtaken by rivals, and whose brand has been tarnished by Musk’s actions outside of Tesla. Surely Musk should be fighting for his job, not Tesla’s board fighting to keep him?
“Tesla is a public company, and shareholders will ultimately decide if he deserves a $1 trillion pay deal.
“The bigger question is whether this proposal sets a new precedent and boardrooms across America will think it’s OK to add a zero or two onto the end of current remuneration packages. It all seems a tad excessive and a symptom of poor corporate governance.”
Very early in the new pay plan, Tesla would have to reach a market valuation of $2 trillion (£1.48 trillion) and achieve 20 million vehicle deliveries. Tesla delivered fewer than two million vehicles in 2024.
Mr Musk needs to remain with Tesla for at least seven and a half years to cash out on any stock, and 10 years to earn the full amount.
He would also receive more voting power over Tesla under the proposed plan.
The EV company is set to hold its annual shareholders meeting on 6 November.
Sales have fallen precipitously in Europe and plunged 40 per cent in July in the 27 European Union countries compared with the year earlier, even as sales overall of electric vehicles soared, according to the European Automobile Manufacturers’ Association.
Meanwhile, sales of Chinese rival BYD continued to climb fast, grabbing 1.1 per cent market share of all car sales in the month versus Tesla’s 0.7 per cent.
Investors have grown increasingly worried about the trajectory of the company after Mr Musk had spent so much time in Washington this year, becoming one of the most prominent officials in the Trump administration in its bid to slash the size of the US government.
Mr Musk said recently that he needed more shares and control so he could not be ousted by shareholder activists.
Additional reporting by Associated Press
Business
Volkswagen capex recalibration: Automaker pares 2030 investment to $186 bn; China, US headwinds grow – The Times of India
Volkswagen Group plans to invest €160 billion ($186 billion) through 2030, a scaled-down outlay that reflects tightening capital allocation as Europe’s largest automaker grapples with mounting pressure in its two biggest markets — China and the United States, Reuters reported.The investment figure, announced by Volkswagen CEO Oliver Blume, is part of the company’s rolling five-year capital expenditure plan, which is updated annually. The latest commitment compares with €165 billion earmarked for 2025–2029 and €180 billion for 2024–2028, with 2024 marking the peak year for spending.Since that peak, the group — which houses brands such as Porsche and Audi — has been squeezed by higher costs and weaker margins, hit by US tariffs on imported vehicles and intensifying competition in China. The strain has been felt most acutely at Porsche, which derives nearly half of its sales from the US and China combined.Porsche recently unveiled a significant rollback of its electric vehicle strategy as profits came under pressure. Speaking to Frankfurter Allgemeine Sonntagszeitung, Blume said the focus of the latest investment plan was firmly “on Germany and Europe,” particularly in products, technology and infrastructure.Blume added that discussions on an extended savings programme at Porsche are expected to continue into 2026. He also said he does not expect Porsche to grow in China, though localising production across the wider Volkswagen group remains an option. A China-specific Porsche model could make sense at some point, he said.On Audi, Blume noted that any decision on building a manufacturing plant in the United States would depend on whether Washington offers substantial financial support.Blume, who will step down as Porsche CEO in January to concentrate fully on running Volkswagen Group, said his recent contract extension as Volkswagen chief executive until 2030 signalled continued backing from the Porsche and Piëch families as well as the German state of Lower Saxony, the company’s largest shareholders.“But it is true, of course, that shareholders have suffered losses since Porsche went public three years ago. I, too, must face up to this criticism,” he said.
Business
Power as ‘currency’: Experts say data centre growth lifts demand; India poised for global leadership – The Times of India
India’s expanding data centre and artificial intelligence ecosystem could position the country as a global leader in power trade, with experts pointing to surplus electricity capacity and rapid reforms in the power distribution sector, according to speakers at a national conference on energy and technology.Speaking at the National Conference on AI and Machine Learning based solutions in the power sector, Jitendra Srivastava, chairman and managing director of REC Limited, said the rapid rise of AI and data centres is creating a new era where electricity itself becomes a strategic asset, according to ANI.“With the exploding growth of artificial intelligence, with the exploding growth of data centres, with the sheer amount of power required to function these places…We are going to see an era when power will be the currency and we are uniquely placed with its huge potential with its already surplus status. We are poised to become world leaders. We are in a position where we can show the world that power is a tradable commodity and we can be global leaders in this,” Srivastava said.The conference brought together solution providers and power distribution companies with the aim of enabling collaboration and innovation. Shashank Mishra, Joint Secretary in the Ministry of Power, said the initiative was designed to create a common platform for developing new solutions.“Today we are bringing together solution providers and distribution companies on a single platform where they can interact and develop new solutions and ideas. We are also presenting several innovative concepts in the form of solutions, and the best among them will be awarded by the Minister of Power,” Mishra told ANI.He added that the government expects the initiative to be “a transformative” step for the sector.Highlighting ongoing reforms, Srivastava said the Ministry of Power has been driving changes under the Revamped Distribution Sector Scheme (RDSS), with smart metering forming a core pillar of the programme. He stressed that the benefits of smart meters can be fully realised only with the use of advanced analytics.“To understand the advantages of smart metering, it is essential to leverage the power of artificial intelligence and machine learning,” he said, adding that such tools can aid anti-theft measures, load forecasting and system rationalisation.According to Srivastava, the conference seeks to demonstrate how AI- and machine learning-based tools can improve consumer services, assist electricity regulators and help discoms function more efficiently.India’s energy sector has strengthened significantly in recent years, balancing rising demand with sustainability goals. Citing International Energy Agency projections, speakers noted that emerging and developing economies will account for about 85 per cent of the growth in global electricity demand over the next three years, with India playing a central role.As of June 2025, India’s total installed power capacity stood at 476 GW, while power shortages have declined sharply from 4.2 per cent in 2013-14 to 0.1 per cent in 2024-25, according to official data.
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India’s smartphone exports to the US soared to $1.47 billion in October, with global shipments up 49.35 percent to $15.95 billion.
India smartphone export
India’s smartphone export story continues to get stronger despite a year marked by global tensions and tariff worries. New government data shows that shipments to the US surged more than three times year-on-year (YoY) to $1.47 billion in October, compared to $0.46 billion in the same month last year.
The US market has been a major driver this year. Between April and October, India exported smartphones worth $10.78 billion to Americaa, up sharply from $3.60 billion a year earlier.
The fiscal began on a high note:
April: $1.65 billion
May: $2.29 billion
But shipments dipped through mid-year as the industry adjusted production cycles:
June: $1.99 billion
July: $1.52 billion
August: $0.96 billion
September: $0.88 billion
October brought some stability back, helped by steady demand even as tariff-related uncertainty in the US kept pricing and sentiment on edge.
Interestingly, even during the slowdown months, India’s YoY numbers stayed strong — rising consistently from $0.66 billion in April 2024 to $0.26 billion in September 2024.
Global Exports Also See Robust Growth
India’s smartphone exports worldwide also delivered a strong show. Shipments grew 49.35% to $15.95 billion in April–October 2025, up from $10.68 billion in the same period of the previous year.
Growth stayed in double digits throughout, with standout spikes in:
- May: up 66.54% to $2.96 billion
- June: up 66.61% to $2.68 billion
- September: up 82.27% to $1.68 billion
These numbers highlight India’s fast-growing role in global tech supply chains.
Industry Data Points to a Strengthening Ecosystem
A recent report by the India Cellular and Electronics Association (ICEA) pegged smartphone exports at $1.8 billion in September, nearly 95% higher YoY.
Typically, August and September are slow months due to factory recalibration and seasonal demand patterns. But exports held up unusually well this year — a sign of the maturing manufacturing ecosystem and deeper integration with global brands.
The strong export performance both to the US and globally shows how quickly India is climbing up the electronics value chain. Despite geopolitical tensions and tariff unpredictability, India’s smartphone exports have held firm, pointing to a sector that is becoming more competitive, more resilient, and more central to global supply networks.
Click here to add News18 as your preferred news source on Google. December 06, 2025, 17:54 IST
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