Elon Musk Wins Shareholder Approval for Record $1 Trillion Tesla Pay Plan
Elon Musk has secured shareholder approval for a record-breaking $1 trillion Tesla pay package, cementing his grip on the company as he pushes to transform the electric vehicle maker into a global leader in AI and robotics.
The plan received over 75% support during Tesla’s annual shareholder meeting in Austin, Texas, where Musk appeared on stage alongside dancing robots, calling the moment “a whole new book” in Tesla’s story.
The approved package could grant Musk up to $878 billion in stock over the next decade, contingent on ambitious performance milestones — including delivering 20 million vehicles, deploying 1 million robotaxis, and generating $400 billion in core profit. Tesla’s market value would need to climb from $1.5 trillion to $8.5 trillion for Musk to unlock the full payout.
The vote follows months of intense debate over Musk’s compensation and influence. The Tesla board warned that Musk could shift his focus to other ventures — such as SpaceX or his AI startup xAI — if shareholders rejected the plan.
“This isn’t just another chapter,” Musk said to cheering investors. “It’s the start of something entirely new.”
Critics, including Norway’s sovereign wealth fund and proxy advisory firms Glass Lewis and ISS, opposed the plan, citing governance concerns and the risk of excessive power consolidation. Yet supporters argued that tying compensation to Tesla’s market success aligns Musk’s incentives with shareholders’.
Shareholders also voted to invest in xAI, though analysts noted that many abstentions signaled caution over potential conflicts of interest.
The approval clears a major uncertainty clouding Tesla’s future and reinforces Musk’s position as both the visionary and lightning rod behind the company’s AI and robotics ambitions.
