Tesla shareholders have approved CEO Elon Musk’s $1 trillion pay package, the largest in corporate history, with more than 75% voting in favor of the proposal at the company’s annual meeting in Austin, Texas.
The compensation plan, valued at $878 billion after required deductions, ties Musk’s payout to achieving a series of bold goals — from producing 20 million vehicles and launching 1 million robotaxis to reaching an $8.5 trillion market cap.
Musk, already the world’s richest man, celebrated the vote with a theatrical appearance flanked by Tesla’s humanoid robots, calling the moment “a whole new book” in the company’s evolution.
The board had warned that Musk might divert attention to SpaceX, Neuralink, or his AI venture xAI if the plan failed. Shareholders also approved Tesla’s investment in xAI, signaling confidence in Musk’s broader artificial intelligence ambitions despite some investor caution.
Proxy advisors ISS and Glass Lewis opposed the package, calling it excessive, while backers argued it’s justified if Musk achieves the growth targets. Tesla’s market value currently stands at $1.5 trillion, meaning Musk must more than quintuple it to earn the full payout.
Musk told shareholders that Tesla will begin Cybercab robotaxi production and unveil its next-generation Roadster next year, while also exploring a “gigantic chip fab” to supply its AI ambitions.
The decision underscores investors’ continued faith in Musk’s leadership — and their willingness to bet big on his promise to turn Tesla into a robotics and AI powerhouse.
