With Tesla shareholders approving a record $1 trillion payout, Elon Musk could buy gold reserves, every home in Hawaii, hundreds of skyscrapers, thousands of yachts, and even entire car companies.
"I'd like to just give a heartfelt thanks to everyone who supported the shareholder votes. I super-appreciate it," Musk said, reacting to the approval of the compensation package plan by more than 75% of Tesla's shareholders on Nov. 6, according to FirstPost.
Musk, who holds 12.8% of Tesla, became the first person to reach a net worth of $500 billion in early October, though his wealth has since dropped to $482.2 billion, as estimated by Forbes on Nov. 7.
Despite this, Musk's fortune remains more than any individual has ever amassed and far more than anyone could realistically spend. With the $1 trillion payout, what could Musk buy?
To put things in perspective, $1 trillion exceeds Switzerland's annual GDP, which in 2024 is estimated to be just under $900 billion. If you spent $40 every second, it would take 792.5 years to go broke, according to CNN.
Gold reserves
The U.S. Bullion Depository at Fort Knox currently holds 4,175 tonnes of gold. With $1 trillion, Musk could purchase 7,150 tonnes, nearly doubling the current U.S. gold stockpile, according to The Conversation.
Every house in Hawaii
With 572,781 households in Hawaii averaging $826,575, Musk could buy every single home in the U.S. state, surpassing Larry Ellison, the world's second-richest man, who owns 98% of Lanai Island in Hawaii, which he purchased for $300 million in 2012, according to CNBC.
333 supertall skyscrapers
The new JPMorgan Chase headquarters on Park Ave in New York cost $3 billion. With $1 trillion, Musk could construct 333 such skyscrapers.
2,000 Jeff Bezos yachts
Musk could buy 2,000 superyachts similar to the one owned by Amazon CEO Jeff Bezos. Bezos' 127-meter yacht "Koru" is estimated to be worth $500 million.
The entire Ivy League, five times over
The combined endowments of the eight Ivy League universities total around $200 billion, meaning Musk could buy the entire Ivy League five times over.
Major car manufacturers
With $1 trillion, Musk could buy major car manufacturers like Toyota, Volkswagen, Stellantis, Hyundai, Ford, and GM, effectively absorbing his competition.
Major oil companies
Musk could take control of the three largest American oil companies, ExxonMobil, Chevron, and ConocoPhillips.
Sports teams
Musk could purchase every team in the NFL, NBA, and Premier League, with plenty of funds left to spare.
If he were to decide not to splurge on himself and instead contribute to global good, this monumental sum could provide clean drinking water for every person on Earth and still leave enough for multiple missions to Mars. Alternatively, Musk could use his fortune to end world hunger. In 2021, the United Nations World Food Programme stated that $40 billion annually would be required to end world hunger by 2030, amounting to $400 billion over the next decade.
Musk's record payout comes with stringent requirements, however. He must meet ambitious financial and operational targets, such as increasing Tesla's market value nearly sixfold and delivering 20 million electric vehicles over the next 10 years, according to Associated Press. Additionally, the CEO is tasked with deploying one million human-like robots, his "robot army", which he promises will revolutionize both work and home life.
If Musk achieves these goals, Tesla could rival Meta, Microsoft, and Google's parent Alphabet in value.