Tesla shareholders approve Elon Musk’s $1T pay package

Tesla shareholders have overwhelmingly approved a new compensation package for CEO Elon Musk that could be worth up to $1 trillion in company shares. More than 75% of voting shareholders supported the plan, which ties Musk’s pay to achieving ambitious operational, profit, and market capitalization milestones over the next decade. The package is structured in 12 tranches, with Tesla needing to grow its market value from about $1.5 trillion today to $8.5 trillion within ten years. Musk will not receive an immediate payout or salary but stands to gain substantial shares and increased control of Tesla if these goals are met. The approval followed an intense two-month campaign by Tesla’s leadership, including public appeals and even television ads urging shareholders to back the plan. Chairwoman Robyn Denholm emphasized Tesla’s critical juncture and the importance of Musk’s leadership. Musk himself framed the package as a means to increase his voting control from around 15% to about 25%, which would protect him from being ousted and