We report on sub-cycle terahertz light-field emission of electrons from tungsten nanotips under extreme conditions corresponding to a Keldysh parameter $\gamma_K\approx10^{-4}$. Local peak THz fields up to 40~GV/m are achieved at the apex of an illuminated nanotip, causing sub-cycle cold-field electron emission and acceleration in the quasi-static field. By simultaneous measurement of the electron bunch charge and energy distribution, we perform a quantitative test of quasi-static Fowler-Nordheim tunnelling theory under field conditions that completely suppress the tunnel barrier. Very high bunch charges of $\sim10^6$ electrons/pulse are observed, reaching maximum energies of 3.5~keV after acceleration in the local field. The energy distribution and emission current show good agreement with Fowler-Nordheim theory even in this extreme field regime. Extending this model to the single-shot regime under these conditions predicts peak electron distributions with a spectral purity of $10^{-4}$. THz field-induced reshaping and sharpening of the nanotip is observed, reducing the tip radius from 120~nm to 35~nm over roughly $10^9$ THz shots. These results indicate THz-driven nanotips in the extreme field limit are promising electron sources for ultrafast electron diffraction and microscopy.