Tesla OK’s Elon Musk’s $1-Trillion Pay Package: Key Takeaways for Canadians
What Happened?
During their 2025 annual meeting, Tesla shareholders voted in favour of CEO Elon Musk’s $1-trillion pay package.
Currently, Musk doesn’t take any salary from the automaker. The package comes in the form of a stock grant — distributed in 12 equal blocks over the next decade.
However, in order for him to receive the full payout, the following is reportedly required:
- Tesla must reach an $8.5-trillion market cap
- A series of either operational or financial targets are achieved
According to CNN, if everything goes to plan, it would be the equivalent of Musk earning around $275 million a day — surpassing any other executive pay package in history.
SEE ALSO
• Intel Provides Outgoing CEO with $12-Million Severance Package
• Hydro One CEO Walked Away from $10M Severance?
• Executive Employment Contracts: Definition & Negotiating
• Tesla Layoffs in Canada: Your Rights and Severance Pay Explained
Is This an Exit Package?
No. This agreement doesn’t mean Musk has to step down as CEO of Tesla. In fact, he threatened to leave the company if it didn’t get the green light.
While pay packages of this nature aren’t as common as exit packages, it’s crucial for non-unionized employees across Canada to understand their severance rights in the event they’re fired or let go.
Before signing anything, check out our severance guides for Ontario, Alberta, and British Columbia (BC). You can also use our free Pocket Employment Lawyer tool for real-time insights.
ADDITIONAL RESOURCES
• Employer Reduced Your Wages in Ontario? Employee Rights
• What Albertans Need to Know About Pay Cuts
• Boss Cut Your Pay in British Columbia? Employee Guide
Workplace Issue? Get Help Now
Contact Samfiru Tumarkin LLP: 1-855-821-5900 or request a consultation online.
Our experienced employment lawyers in Ontario, Alberta, and BC have helped tens of thousands of non-unionized workers enforce their rights and secure the compensation they’re owed.
📺 WATCH: The Difference We Make in Certain Situations
If you’ve lost your job at Tesla — or another employer — for any reason, don’t panic. We can review your situation and advise you of potential next steps.
Contact your union immediately. By law, employment lawyers can’t represent unionized employees.
Disclaimer: The materials above are provided as general information about the rights of non-unionized employees in Canada. It is not specific to any one company and SHOULD NOT be read as suggesting any improper conduct on the part of any specific employer, or a relationship between Samfiru Tumarkin LLP and a specific employer.
About the Author
Lior Samfiru
Lior Samfiru is a Founding Partner at Samfiru Tumarkin LLP and the Practice Leader of the firm’s Labour & Employment Law Group. Known for his advocacy and success representing both employees and employers, Lior exclusively serves clients in Ontario, where his extensive experience has made him one of Canada’s most sought-after employment lawyers.
More about Lior SamfiruRelated Posts
Indeed Restructures Teams Again to Align With AI Priorities
Indeed has reorganized its teams in 2025 to align with AI priorities. Learn what this restructuring means for employees in Canada.
Indeed Layoffs 2025: Timeline, Reasons, and What Employees Should Know
On November 6, 2025, Indeed confirmed new layoffs as it restructures under Recruit Holdings. Learn why and what your severance rights are.
Laid Off or Facing Layoffs in Canada? Your 2025 Legal Guide
Laid off or affected by layoffs in Canada? Understand your rights to severance and next steps in our 2025 legal guide.