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Pope Leo XIV is no fan of the Tesla board’s plan to possibly make CEO Elon Musk the world’s first trillionaire.
Leo, who recently became the first ever American-born pontiff, told the Catholic news site Crux that Musk’s proposed pay package was emblematic of the loss of “the value of human life, of the family, of the value of society.”
“Yesterday, the news [arrived] that Elon Musk is going to be the first trillionaire in the world,” Leo, formerly known as Cardinal Robert Francis Prevost from Chicago, told Crux in an interview published on Sunday.
“What does that mean, and what’s that about?” the pope asked. “If that is the only thing that has any value any more, then we are in big trouble.”
Leo granted the interview to Crux in July — weeks before Tesla shareholders officially proposed a pay package that could reach $1 trillion if Musk reaches benchmarks tied to the company’s performance.
Last year, Informa Connect Academy published a report indicating that Musk could reach the $1 trillion net worth threshold by 2027.
Leo argued that Musk’s pay was just one illustration of “the continuously wider gap between the income levels of the working class and the money that the wealthiest receive.”
“CEOs that 60 years ago might have been making four to six times what the workers are receiving, the last figure I saw, it’s 600 times what average workers are receiving,” Leo said in an interview for a forthcoming Spanish-language biography to be published by Penguin Peru.
The Post has sought comment from Tesla.
Musk last week snapped up about $1 billion worth of company stock last week, his biggest open-market buy since 2022, as the board pushes an eye-popping new pay plan that could hand him stock awards worth up to $1 trillion.
Musk bought the shares on Friday through a revocable trust, according to a regulatory filing released Monday. The filing was first reported by Bloomberg News.
The move came the same day Tesla Chair Robyn Denholm defended the proposed compensation package, which ties Musk’s potential payout to ambitious market-value and performance milestones.
The billionaire’s purchase triggered a surge in Tesla shares, which jumped as much as 7.3% in premarket trading. A rebound would mark a turnaround for the stock, which had been down 45% earlier this year.
Musk, 54, last bought Tesla shares in February 2022, when he spent more than $20 billion on stock the same year he took over Twitter.
His latest bet signals confidence in Tesla despite a tough first half of 2025, when deliveries fell 13% globally. Musk has also warned of “a few rough quarters” ahead as US incentives for electric-car buyers expire this month.
Musk remains the world’s richest person, with an estimated net worth of $419 billion.
Denholm told Bloomberg News last week that no one but Musk can steer the carmaker through its transition into artificial intelligence and robotics.
“He is a generational leader,” Denholm said Friday in a Bloomberg Television interview. “There aren’t any other people out there like Elon who can actually lead the company over the next decade or so.”
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The unprecedented compensation plan for Musk that was proposed by the board is contingent on Tesla hitting milestones such as delivering 20 million electric vehicles, putting one million robotaxis into service and boosting its market value beyond $7.5 trillion.
A shareholder vote is scheduled for November.
Denholm acknowledged Musk could shift into another role, such as chief product officer, but stressed the package is designed to keep his focus on Tesla as it pushes deeper into AI and robotics.
Musk has said as much as 80% of Tesla’s long-term value could come from the Optimus humanoid robot, even as EV sales falter in key markets.
Tesla shares rose 6.3% on Friday.
Musk became CEO of Tesla in October 2008. The electric car maker went public on the Nasdaq in June 2010, with shares priced at $17 per share.
As of Monday morning, the stock was trading at $395.94 — an increase of nearly 25,000%.
Nonetheless, Tesla has been reeling in recent months as plunging sales, shrinking profits, and Musk’s foray into politics batter the company’s brand.
Global EV deliveries are on track to fall for a second straight year, with sales down 13% and profits off 16% in recent quarters.
Tesla’s operating margin has collapsed to just 2.1%, weighed down by lost US tax credits, reduced regulatory credit sales and price cuts of up to 15% on key models.
Competition from Chinese rival BYD has intensified, with the Shenzhen-based automaker overtaking Tesla in global sales and carving out market share in Europe and China.
Supply chain dependence on China has further exposed Tesla to tariffs and geopolitical risks.
At the same time, Musk has drawn fierce backlash for moonlighting in politics.
He endorsed President Donald Trump in 2024, briefly served as head of the Department of Government Efficiency in Trump’s administration and has floated creating his own political party.
That involvement has alienated Tesla’s traditional left-leaning customer base, leading to boycotts, protests, and vandalism at showrooms.
Investors worry Tesla’s bet on humanoid robots and robotaxis won’t quickly offset the declines.
English (US)