Tesla Shareholders Approve $1 Trillion Elon Musk Pay Package

Tesla shareholders approved a $1 trillion compensation package for CEO Elon Musk, marking the largest corporate pay plan in history. To secure the full award, Musk must lead Tesla to a market capitalization of $8.5 trillion by 2035, which is approximately six times the company's valuation at the time of the vote.

The plan requires Tesla to meet several aggressive operational milestones, including the production of 20 million electric vehicles, the deployment of 1 million robotaxis, and the manufacturing of 1 million AI robots. Additionally, the company must achieve a yearly adjusted EBITDA of $400 billion. Musk must maintain an approved executive role to keep the shares, which vest over a 10-year period.

Despite opposition from proxy advisory firms and the Government Pension Fund Global, the package passed with over 75% shareholder support. Musk stated that the plan is intended to increase his ownership stake toward 30% to ensure control over the company's AI and robotics ambitions.