News Summary

Tesla shareholders have approved a groundbreaking $1 trillion pay package for CEO Elon Musk, marking the largest compensation plan in corporate history. With over 75% of shareholders voting in favor, the package is structured to grant Musk up to 423.7 million additional Tesla shares over the next decade, contingent on the company achieving specific financial and production milestones. These targets include reaching an $8.5 trillion valuation, delivering 20 million vehicles, and deploying 1 million robotaxis. The plan aims to retain Musk’s leadership and influence within Tesla as it expands beyond electric vehicles into areas such as robotics and autonomous driving technology. Despite some opposition from significant shareholders and advisory firms concerned about dilution and risk, the package was deemed necessary by Tesla’s board to ensure Musk’s continued focus on the company.