Tesla shareholders approve Elon Musk's $1 trillion compensation plan

In a move that feels almost cinematic, Tesla achieved a milestone on Thursday (November 6) when shareholders green‑lit what now stands as the biggest pay package ever awarded to a corporate executive. The deal sailed through with over 75 % of votes in favor a signal that investors are buying into Elon Musk's blueprint to morph the electric‑vehicle juggernaut into a front‑runner in artificial intelligence and robotics.

The vote was unveiled at Tesla's gathering, at its Austin, Texas factory, where Musk made an entrance flanked by a troupe of dancing robots, a vivid showcase of the company's forward‑looking, sci‑fi‑inspired vision.

Tesla shareholders approve Elon Musk's $1 trillion performance-based pay plan

Tesla shareholders have approved a historic compensation plan for CEO Elon Musk that could ultimately be worth up to $1 trillion if the company achieves a set of ambitious goals over the next decade, with roughly 75% of investors voting in favor during the annual meeting in Austin, Texas. If Tesla meets a string of targets over 10 years, the deal could swell to an eye‑watering $1 trillion.

Supplanting the 2018 compensation plan that a Delaware court invalidated, the new performance‑oriented agreement makes Musk's entire paycheck hinge, on a series of milestones, cranking out 20 million vehicles, fielding a fleet of one million self‑driving robotaxis, signing up 10 million Full Self‑Driving subscribers, and catapulting Tesla's market value to $8.5 trillion - a figure that dwarfs its $1.4 trillion valuation, as reported by Dexerto.

Musk celebrated the green light onstage, calling the meeting a "banger" and saying it marked the start of "a book" for Tesla even as critics warned that the massive potential payout might be excessive. Though some of the world's investors, Norway's sovereign wealth fund and CalPERS for instance, opposed the plan, a surge of backing from retail shareholders carried it through, underscoring their growing sway, over corporate governance.

Over the past six months Tesla's share price has surged more than 60%, now hovering around $448 a share. So it remains far shy of the $700‑plus all‑time it once touched, a stark reminder of the market's fickle swings and a sign that investors still back Musk's vision for the company's next growth chapter.

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