Elon Musk says he needs to build his stake in Tesla so much that he could become the world’s first trillionaire. But this week he said his aim wasn’t to increase his planet-leading wealth. Instead, Musk said the biggest pay package in history was necessary to protect his company.

Electric vehicle manufacturer Tesla has made headlines twice recently after proposing two gargantuan compensation packages for CEO Elon Musk despite a yearslong lawsuit brought by an investor who believes its board of directors sought to overpay Musk.

In a positive sign for Republicans ahead of next year’s midterms, the president revealed he is back in touch with Musk.

Meanwhile, TV host Jim Cramer has backed Musk's $1 trillion pay packet, which has drawn criticism from proxy advisory firms like International Shareholder Services (ISS) and Glass Lewis. Cramer said that Musk, as the CEO of Tesla, "was actually worth" the package.

Tesla faces a challenging future as former Stellantis CEO Carlos Tavares predicts the company may exit the automotive sector amid competition from BYD.

Tesla chief Elon Musk said in a call with investors on Wednesday that his team is “on the cusp of something really tremendous” with Optimus, the humanoid robot that it’s been working on since 2021.