Business
‘It’ll be something cool’: Elon Musk promises of moon buggies, humanoid robots after $1 trillion Tesla payday – The Times of India
Tesla CEO Elon Musk celebrated shareholder approval of his record-breaking $1 trillion compensation package with a flurry of ambitious promises, from humanoid robots performing surgery to building vehicles for missions to the Moon and Mars.The vote, which saw over 75% of investors back the deal, clears the path for Musk to expand his stake in Tesla to around 25% over the next decade and potentially become the world’s first trillionaire.
Humanoid robots, moon buggies, & new vision
Musk used the meeting to outline Tesla’s futuristic roadmap. He claimed the company’s humanoid robot, Optimus, would soon evolve from handing out candy to performing surgery “with beyond-human precision.”He also teased that both Optimus and Tesla’s vehicles could one day play a key role in establishing bases on the Moon and Mars. “It’ll be something cool — a next-level moon buggy or Mars buggy,” Musk told shareholders, Bloomberg reported.The billionaire added that Tesla aims to boost its car production by roughly 50% by the end of 2026, despite ongoing challenges in its automotive division, which is facing its second consecutive year of declining sales.“It’s not just a new chapter for Tesla, it’s a new book,” Musk declared during the company’s annual meeting in Austin, Texas.“That new book is about massively increasing vehicle production and ramping up Optimus production faster than anything in human history,” he added.
Pay package paves way to trillionaire status
The approval of Musk’s massive stock award cements his control over Tesla at a time when he had hinted he might divert more attention to other ventures if the deal failed. General Counsel Brandon Ehrhart announced that more than three-quarters of votes supported the package, prompting a standing ovation.The plan sets performance targets that could raise Tesla’s market value to $8.5 trillion, enough to make Musk’s total stake worth roughly $2.4 trillion, according to Bloomberg estimates. That figure would surpass the GDP of nearly every country except a handful of the largest economies.“There are significant hurdles,” noted Dan Ives, an analyst at Wedbush Securities. “Musk now has to execute on the most important chapter in Tesla’s history, an autonomous and robotic future.”The compensation plan faced resistance from several institutional investors and proxy advisory firms, including Norway’s Norges Bank Investment Management and Glass Lewis, who cited its “unprecedented scale” and potential dilution of other shareholders.According to Bloomberg, critics also accused Tesla’s board of being overly deferential to Musk. New York State Comptroller Thomas DiNapoli called the deal “pay for unchecked power, not pay for performance,” while Senator Bernie Sanders described it as “totally absurd.”
Musk’s vision: From chips to cybercabs
Musk acknowledged that Tesla’s growth will depend heavily on securing enough chips for its advanced technologies. He suggested that Tesla may build its own semiconductor facility to supplement existing supply from companies like Samsung and Taiwan Semiconductor Manufacturing Co.“Even in the best-case scenario, the chip supply from our partners won’t meet our needs,” Musk said. “So we may have to build a Tesla terafab — like giga, but way bigger” he added.He revealed that three new products are expected to enter production next year — the humanoid Optimus, the long-delayed Semi truck, and the steering-wheel-less Cybercab, Tesla’s autonomous ride-hailing vehicle.
Investor division over xAI investment
While shareholders largely supported Musk’s pay deal, they were split over another proposal — a potential investment in Musk’s artificial intelligence company, xAI. Ehrhart said that although more votes were cast in favor than against, there was “a significant number” of abstentions.The measure was advisory and non-binding, meaning Tesla is not required to follow through. Musk has previously suggested Tesla could inject up to $5 billion into xAI to accelerate development in AI and robotics integration.
A roller coaster ride
Musk’s wealth has seen major swings this year. It peaked around $450 billion in January when he appeared alongside President Donald Trump at his inauguration but fell sharply amid political controversies and consumer backlash. A feud with Trump over policy disagreements later sent Tesla shares tumbling.His fortune has since rebounded, buoyed by a recovery in Tesla stock and rising valuations for SpaceX and his AI venture xAI. As of this week, Musk’s net worth stood at around $460 billion, according to the Bloomberg Billionaires Index.Tesla’s shares slipped as much as 4.8% on Friday morning amid a broader market downturn, even as Musk vowed to “massively scale production and push the limits of human innovation.”
The Pakistan Stock Exchange (PSX) surged to a fresh all-time high on Tuesday, with market participants showing positive sentiments following the International Monetary Fund’s (IMF) approval for a $1.2 billion loan for Pakistan.
The benchmark KSE-100 Index settled at an all-time high of 169,456.38 points, up 1,153.14 points, or 0.69%, from the previous close of 168,303.24. The index climbed to an intraday high of 169,601.03, gaining 1,297.79 points.
The market rally strengthened further following the IMF’s approval of nearly $1.2 billion under the Extended Fund Facility (EFF) and an additional $220 million under the Resilience and Sustainability Facility (RSF).
The move has kept the combined $8.4 billion programme on track and significantly lifted investor confidence.
The surge was largely fuelled by strong and consistent buying from local mutual funds, which helped sustain positive momentum throughout the session. Major index contributors collectively added around 640 points to the benchmark’s gains.
Trading activity also remained robust. Total volumes crossed 1.02 billion shares, while overall turnover rose to Rs51.1 billion. K-Electric (KEL) dominated the session as the volume leader with 86.7 million shares traded.
With solid liquidity, improving macro indicators, and renewed confidence, the record close reinforces the bullish trend steering the market forward.
The IMF will release $1bn under the EFF and $200 million under the RSF, bringing total disbursements under both programmes to $3.3 bn.
“Today, the Executive Board of the IMF completed the second review of Pakistan’s economic reform program supported by the EFF and the first review of Pakistan’s program supported by the RSF,” the IMF said in a statement.
This decision, it said, allows for an immediate disbursement of around $1 billion under the EFF and around $200 million under the RSF, bringing total disbursements under the two arrangements to about $3.3 billion
The IMF has described the implementation of the ongoing loan programmes as “strong” and has assured the government of continued support for its economic reforms. The release of $1.2bn is expected to further bolster Pakistan’s foreign exchange reserves.
.png?width=1200&height=800&crop=1200:800 "Save on Christmas gifts for the whole team with Amazon Business")
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Pankaj Chaudhary confirmed 50.14 lakh central government employees and 69 lakh pensioners will benefit from the 8th Central Pay Commission.
8th Pay Commission Implementation
8th Pay Commission: Pankaj Chaudhary, minister of state in the Ministry of Finance, clarified that the total number of government employees currently stands at 50.14 lakh, and there are approximately 69 lakh pensioners, who will get the benefits from the 8th Pay Commission.
In a written reply to Lok Sabha dated December 8, 2025, the minister said “the number of central government employees is 50.14 lakh, and the number of pensioners is 69 lakh approximately.”
When asked the date of implementation of the 8th CPC, the Minister clarified that it will be decided by the government that the commission will make its recommendations within 18 months from the date of its constitution.
The minister was asked plans for allocation of funds for the 8th CPC in the 2026-27 budget, the MoS said it will make appropriate provision of funds for implementing the accepted recommendations of the 8th CPC. It will devise methodology and procedure for formulating its recommendations.
The finance ministry has stated that the 8th Central Pay Commission will submit its recommendations on key matters such as pay, allowances, pensions and other related issues. Minister of State for Finance Pankaj Chaudhary clarified the government’s position in response to an unstarred question in the Rajya Sabha from members Javed Ali Khan and Ramji Lal Suman, who had asked whether a revision of pensions for central government employees is being considered under the 8th CPC.
No Proposal To Merger DA, DR With Basic Pay
Union Minister of State for Finance Pankaj Chaudhary had said earlier the central government has notified the constitution of the 8th Central Pay Commission, and there is no proposal as of now to merge the existing dearness allowance (DA) or dearness relief (DR) with the basic pay.
“No proposal regarding merger of the existing dearness allowance with the basic pay is under consideration with the government at present. In order to adjust the cost of living and to protect basic pay/ pension from erosion in real value on account of inflation, the rates of DA/ DR are revised periodically every six months on the basis of the All India Consumer Price Index for Industrial Workers (AICPI-IW) released by Labour Bureau, Ministry of Labour and Employment,” Chaudhary said in response to a query in the Lok Sabha.
He said the government has notified Resolution dated November 3, 2025, for the constitution of the Eighth Central Pay Commission. A copy of the Notification is enclosed at Annexure-1.
Click here to add News18 as your preferred news source on Google. December 09, 2025, 17:45 IST
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