Politics
Elon Musk set to become world’s first trillionaire under Tesla pay package – National TenX News
The world’s richest man was just handed a chance to become history’s first trillionaire.
Elon Musk won a shareholder vote on Thursday that would give the Tesla CEO stock worth $1 trillion if he hits certain performance targets over the next decade. The vote followed weeks of debate over his management record at the electric car maker and whether anyone deserved such unprecedented pay, drawing heated commentary from small investors to giant pension funds and even the pope.
In the end, more than 75% of voting shareholders gathered at the company’s Austin, Texas, headquarters approved the plan.
“Fantastic group of shareholders,” Musk said after the final vote was tallied, adding “Hang on to your Tesla stock.”
The vote is a resounding victory for Musk showing investors still have faith in him as Tesla struggles with plunging sales, market share and profits in no small part due to Musk himself. Car buyers fled the company this year as he has ventured into politics both in the U.S. and Europe, and trafficked in conspiracy theories.
The vote came just three days after a report from Europe showing Tesla car sales plunged again last month, including a 50% collapse in Germany.
Still, many Tesla investors consider Musk as a sort of miracle man capable of stunning business feats, such as when he pulled Tesla from the brink of bankruptcy a half-dozen years ago to turn it into one of the world’s most valuable companies.

The vote clears a path for Musk to become a trillionaire by granting him new shares, but it won’t be easy. The board of directors that designed the pay package require him to hit several ambitious financial and operational targets, including increasing the value of the company on the stock market nearly six times its current level.
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Musk also has to deliver 20 million Tesla electric vehicles to the market over 10 years amid new, stiff competition, more than double the number since the founding of the company. He also has to deploy more than 1 million of his human-like robots that he has promised will transform work and home — he calls it a “robot army” — from zero today.
Musk could add billions to his wealth in a few years by partly delivering these goals, according to various intermediate steps that will hand him newly created stock in the company as he nears the ultimate targets.
That could help him eventually top what is now considered America’s all-time richest man, John D. Rockefeller. The railroad titan is estimated by Guinness World Records to have been worth $630 billion, in current dollars, at his peak wealth more than 110 years ago. Musk is worth $493 billion, as estimated by Forbes magazine.
Musk’s win came despite opposition from several large funds, including Calpers, the biggest U.S. public pension, and Norway’s sovereign wealth fund. Two corporate watchdogs, Institutional Shareholder Services and Glass Lewis, also blasted the package, which so angered Musk he took to calling them “corporate terrorists” at a recent investor meeting.
Critics argued that the board of directors was too beholden to Musk, his behavior too reckless lately and the riches offered too much.

Supporters said that Musk needed to be incentivized to focus on the company as he works to transform it into an AI powerhouse using software to operate hundreds of thousands of self-driving Tesla cars — many without steering wheels — and Tesla robots deployed in offices, factories and homes doing many tasks now handled by humans.
Investors voting for the pay had to consider not only this Musk promise of a bold, new tomorrow, but whether he could ruin things today: He had threatened to walk away from the company, which investors feared would tank the stock.
As it turned out, Tesla shares, already up 80% in the past year, rose 1.5% on news of the vote, to $447.27 in after-hours trading.
For his part, Musk says the vote wasn’t really about the money but getting a higher Tesla stake — it will double to nearly 30% — so he could have more power over the company. He said that was a pressing concern given Tesla’s future “robot army” that he suggested he didn’t trust anyone else to control given the possible danger to humanity.
© 2025 The Canadian Press
Politics
Louvre raises ticket prices for non-Europeans, hitting Canadian visitors TenX News
A trip to the world’s most-visited museum is about to cost Canadians significantly more.
France has hiked ticket prices at the Louvre by 45 per cent for visitors from outside the European Union, a move that is fuelling debate over so-called dual pricing and the growing backlash against overtourism.
Starting this week, adult visitors from non-EU countries, including Canada, must pay €32 to enter the Paris landmark, up from €22. That’s an increase from about $35 to $52 Canadian.

Visitors from EU countries, as well as Iceland, Liechtenstein and Norway, will continue to pay the lower rate.
The price hike comes as the Louvre grapples with repeated labour strikes, a high-profile daylight jewel heist last October that prompted a costly security overhaul, and years of chronic overcrowding. The museum attracts roughly nine million visitors annually.
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Some Canadian tourists told Global News they feel unfairly targeted.
“We didn’t cause the robberies or some of the other issues that happened and we are paying the consequences,” said Allison Moore, visiting Paris from Newfoundland with her daughter. “[In] Canada we don’t discriminate over pricing like that.”
Others argue tourists already shoulder higher costs simply by travelling long distances.
“In general for tourists, I think things should be a little cheaper than for local people, because we have to travel to come all the way here,” said Darla Daniela Quiroz, another Canadian visitor. “It should be equal pricing, or a little bit cheaper.”

Even some Europeans question the two-tiered system. A French tourist interviewed outside the museum said there was “no reason” to charge non-Europeans more and that the fee should be the same for everyone.
Tourism experts say the Louvre’s financial pressures help explain the decision.
“The Louvre is really cash-strapped right now and needs to do something,” said Marion Joppe, a professor at the University of Guelph. “It can’t really look to the government, which is already struggling with its own budget.”
The move also reflects a broader global pushback against mass tourism. Anti-tourism protests have spread across parts of Spain, New Zealand has increased its entry tax, and the United States recently raised national park fees for foreign visitors.
“You take Paris — it gets about 50 million tourists a year,” said Julian Karaguesian, an economist at McGill University. “That’s roughly a million a week. The city simply wasn’t built for those kinds of numbers.”
Despite the higher price, many visitors say they will still line up to see the Mona Lisa and other of the museum’s famous artworks.
“It’s one of the main attractions. It’s on everybody’s list,” Moore said. “We’re still going to go, and hopefully it will be worth it in the end.”
© 2026 Global News, a division of Corus Entertainment Inc.
Politics
Trump calls Canada-China deal ‘good thing’ as U.S. officials voice concern – National TenX News
Canada’s new trade deal with China is getting a mixed reaction in Washington, with U.S. President Donald Trump voicing support as administration officials warned Ottawa could regret allowing Chinese EVs into the Canadian market.
The deal signed with Beijing on Friday reverses course on 100 per cent tariffs Canada slapped on Chinese electric vehicles in 2024, which aligned with similar U.S. duties. Canada and China also agreed to reduce tariffs on canola and other products.
Asked about the deal by reporters at the White House, Trump said Prime Minister Mark Carney was doing the right thing.
“That’s what he should be doing. It’s a good thing for him to sign a trade deal. If you can get a deal with China, you should do that,” Trump said.
However, members of Trump’s cabinet expressed concern.
“I think they’ll look back at this decision and surely regret it to bring Chinese cars into their market,” U.S. Transportation Secretary Sean Duffy said at an event with other U.S. government officials at a Ford factory in Ohio to tout efforts to make vehicles more affordable.
U.S. Trade Representative Jamieson Greer told reporters the limited number of vehicles would not impact American car companies exporting cars to Canada.
“I don’t expect that to disrupt American supply into Canada,” he said.
“Canada is so dependent on the United States for their GDP. Their entire population is crowded around our border for that reason. I’ll tell you one thing: if those cars are coming into Canada, they’re not coming here. That’s for sure.”
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Carney has said it’s necessary for Canada to improve trade ties and cooperation with China in light of Trump’s trade war and threats to let the Canada-U.S.-Mexico Agreement on free trade expire.

The trade pact is up for review this summer, and Greer reiterated that the Trump administration wants to bring more auto manufacturing back to the U.S. and incentivize companies to do so.
Under the new deal with Beijing, Carney said he expects China will lower tariffs on its canola seed by March 1 to a combined rate of about 15 per cent.
Greer questioned that agreement in a separate CNBC interview.
“I think in the long run, they’re not going to like having made that deal,” he said.
He called the decision to allow Chinese EVs into Canada “problematic” and added: “There’s a reason why we don’t sell a lot of Chinese cars in the United States. It’s because we have tariffs to protect American auto workers and Americans from those vehicles.”
Greer said rules adopted last January on vehicles that are connected to the internet and navigation systems are a significant impediment to Chinese vehicles in the U.S. market.
“I think it would be hard for them to operate here,” Greer said. “There are rules and regulations in place in America about the cybersecurity of our vehicles and the systems that go into those, so I think it might be hard for the Chinese to comply with those kind of rules.”

Trump and officials like Greer have taken aim at Chinese attempts to enter the North American car market through Mexico by bypassing rules of origin under CUSMA.
The CUSMA review set for July is expected to address those loopholes that American and Canadian officials have said are being exploited by China.
Those concerns, which were also raised by the Biden administration, in part helped spur the steep tariffs on Chinese EVs, which are heavily subsidized by Beijing.
Trump, however, has also said he would like Chinese automakers to come to the United States to build vehicles.
Both Democrat and Republican lawmakers in the U.S. have expressed strong opposition to Chinese vehicles as major U.S. automakers warn China poses a threat to the U.S. auto sector.
Ohio Senator Bernie Moreno, a Republican, said at Friday’s event at the Ford plant that he was opposed to Chinese vehicles coming into the United States, and drew applause from the other government officials.
“As long as I have air in my body, there will not be Chinese vehicles sold the United States of America — period,” Moreno said.
—with files from Reuters
© 2026 Global News, a division of Corus Entertainment Inc.
Politics
Canada-China trade deal framed as a win for B.C.’s economy TenX News
Prime Minister Mark Carney’s trade mission to China is being framed as a win for British Columbia’s economy.
Carney announced a new deal with Beijing on electric vehicles and canola at the end of a high-profile trip on Friday.
“The inroads Canada has made this week are a sign that the government gets it and is showing Canadians and the world that we are open for business,” Alexa Young with the Vancouver Fraser Port Authority said.
The trade deal would allow up to 49,000 Chinese EVs into Canada yearly at a tariff rate of 6.1 per cent.
An expanded auto terminal on Annacis Island will be able to handle the additional volume of cars that could be more affordable than what is currently on the market, with prices expected to be under $40,000.
The New Car Dealers Association said in a statement to Global News that, “We look forward to reviewing the full details of this announcement and engaging constructively with governments to ensure that affordability, competition, and long-term market stability remain central considerations.”

In British Columbia, the overall reaction to the news on Friday is positive.
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“China’s economy is important,” Alex McMillan with the B.C. Chamber of Commerce said.
“Having trade deals like this — and diversifying our markets — is important. Providing certainty is important.”
There are concerns with the agreement, including privacy issues and China’s human rights record. But Ottawa’s goal is to double trade with partners outside the United States, which is a goal that would be impossible without China.
“We do want to see more trade and more diversification of our markets and know that China is an important nation and important economy, so having better trade relationships with them, I think overall is going to be good,” McMillan said.
–with files from The Canadian Press
© 2026 Global News, a division of Corus Entertainment Inc.
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