Elon Musk’s $1 trillion Tesla payout deal has sparked a meme coin frenzy, with scores of Musk-themed tokens flooding the market within hours of board approval.
According to DEXTools, new tokens such as “TRILLIONS”, “Elon’s $1” and “MUSK” have been launched in Solana, Ethereum and BNB Chain. Several versions of TRILLIONS rose hundreds of percent after launch, with a combined trading volume of more than $20 billion.
Many of the new coins plummeted shortly after launch as their creators pulled liquidity through apparent exit scams.
Musk gets a historic compensation package
More than 75% of Tesla shareholders agreed to give Musk, already the world’s richest person, shares worth nearly $1 trillion if the company reaches ambitious financial and operating goals over the next decade. If he gets paid, it would probably make him the world’s first trillionaire.
The compensation package will be split into twelve tranches of Tesla stock, with one of the milestones being Tesla’s market capitalization reaching $8.5 trillion in the coming years.
Tesla’s board and Musk emphasized that the compensation package is critical to maintaining Musk’s leadership as the company transitions from an electric vehicle manufacturer to an AI/robotics company.
That $8.5 trillion capitalization target is more than six times more than the company’s current market cap of about $1.4 trillion, according to Google Finance.
Tesla share price (Source: Google Finance)
Tesla shares fell more than 3% yesterday, but are more than 1% higher in pre-market trading.
Elon Musk regularly influences the meme coin trade
Elon Musk’s influence on meme coins is not new. The billionaire has helped shape market sentiment for years with his comments, tweets and business moves.
Nicknamed the ‘DOGE-Father’, Musk helped bring Dogecoin to mainstream prominence with his frequent mentions.
More recently, he has shifted his focus to Bitcoin, with both Tesla and SpaceX owning the crypto as part of their treasury strategies.
Tesla is the twelfth largest business owner with 11,509 BTC worth approximately $1.16 billion at current prices, giving the company an unrealized gain of more than 200%, according to Bitcoin Treasuries.
Tesla BTC holdings (Source: Bitcoin treasuries)
Musk continues to defend the principles of Bitcoin. On The Joe Rogan Experiencehe revealed that X Chat, a new encrypted messaging system for his social media platform X, uses a peer-to-peer framework that is “a bit like Bitcoin.”
Last month, he posted that Bitcoin’s energy foundation makes it “uniquely reliable” compared to fiat money, and later replied with the “100” emoji to a user who said Dogecoin shares the same quality.
WHERE.
That’s why Bitcoin is based on energy: you can issue fake fiat money, and every government in history has done so, but it’s impossible to counterfeit energy.
— Elon Musk (@elonmusk) October 14, 2025
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