Tesla is rapidly becoming the Berkshire Hathaway of the tech world. So, does this mean its CEO, Elon Musk, will become his generation's Warren Buffett? Thursday was a significant day for the electric car maker. The company held its annual shareholder meeting in Austin, Texas, where Musk learned that shareholders voted to grant him approximately 425 million incentive stock options, worth about $1 trillion if all performance targets are met over the next ten years. Musk expressed his gratitude to the guests, and the passionate event has become a "pilgrimage" for Tesla fans. Tesla's annual meeting is starting to resemble Berkshire Hathaway's annual meeting. In the future, their annual meetings may become more like Berkshire Hathaway's shareholder meeting, often referred to as "Woodstock for Capitalists." “The venue here is great, we love coming to the factory… but there are thousands of retail investors who are disappointed because they can’t attend… please organize a larger venue,” said Alexandra Merz, a Tesla shareholder, former Moody’s credit officer, and founder of L&F Investors Service. She added, “We are bigger than Berkshire, and we will do better than Berkshire.” Musk agreed. If he puts this into action, Tesla’s annual convention could become “the Woodstock of tech experts.” Musk could then showcase SpaceX, xAI, Neuralink, The Boring Company, and Tesla itself—whose businesses span automobiles, robotics, batteries, energy storage devices, and computing chips. Besides the highly anticipated annual convention, Buffett and Musk share another commonality: neither receives a traditional annual salary. According to Berkshire Hathaway's proxy statement, Warren Buffett, as CEO of Berkshire Hathaway, earns an annual salary of approximately $400,000, and his roughly $150 billion fortune primarily comes from his Berkshire Hathaway stock holdings. Elon Musk does not receive traditional compensation from Tesla; his nearly $500 billion net worth comes from his stock holdings in Tesla and other companies. According to Bloomberg data, the average annual salary for CEOs of S&P 500 companies is currently around $20 million. While Buffett and Musk's compensation cannot compare to these figures, both are extremely well-off financially. It's worth noting that Musk's 2018 compensation plan was valued at approximately $56 billion at the time, which, if amortized over seven years, would equate to $8 billion annually. Today, those stock options are worth nearly $130 billion. There are also differences between Buffett and Musk. Berkshire Hathaway has not paid Buffett a substantial stock-based compensation incentive. Tesla shares fell 3.7% on Friday, closing at $429.52; the S&P 500 rose 0.1%, and the Dow Jones Industrial Average edged up 0.2%. The share price drop after the compensation package was approved may have surprised investors, but there's a simple explanation: the stock market is forward-looking, and investors typically "buy the rumor, sell the fact." The compensation package was likely to pass anyway. Tesla's board and shareholders have repeatedly indicated their preference for such compensation for their favored CEO. Wedbush analyst Dan Ives wrote in a report on Thursday that with the compensation controversy settled, "market focus will shift to artificial intelligence." He stated that the vote solidified "Musk's position as a 'wartime CEO' during the AI revolution, giving us more confidence in Tesla's future prospects." Ives believes that Tesla is developing AI applications such as self-driving cars, which will usher in a new era of profit growth for the company. Ives is Wall Street's most bullish analyst on Tesla, giving the stock a "buy" rating and a price target of $600, the highest on Wall Street. According to FactSet data, the average price target for Tesla stock is approximately $400.