Share Tesla shareholders have approved a staggering, performance-based pay package for CEO Elon Musk that could be worth nearly $1 trillion. The unprecedented deal was ratified with a 75% majority vote at the company’s annual general meeting in Austin, Texas, entirely contingent on the electric vehicle firm achieving a series of extremely ambitious targets over the next decade. The compensation plan, described as the largest corporate pay package in history, is entirely stock-based, meaning Musk will not receive a salary. Instead, he will be awarded hundreds of millions of new Tesla shares only if he successfully reaches demanding milestones over the next 10 years. Key targets Musk must hit include: Drastically increasing Tesla’s overall market value to $8.5 trillion, up from its current $1.4 trillion. Delivering 20 million vehicles and one million Optimus robots. Achieving $400 billion in core profit. Bringing one million self-driving Robotaxi vehicles into commercial operation. The deal drew mixed reactions. Supporters, including many retail investors, argue the pay-for-performance structure aligns Musk’s interests with shareholders, with the board stressing that his leadership is “critical” for the company’s future pivot into AI and robotics. Tech analyst Dan Ives called Musk “Tesla’s biggest asset.” However, the scale of the potential payout drew criticism from major institutional investors, including Norway’s sovereign wealth fund, and corporate governance experts who questioned the feasibility of the targets and the board’s independence. The new package followed a previous, similar deal that was rejected by a Delaware judge. Speaking after the vote, an enthusiastic Musk said, “What we’re about to embark upon is not merely a new chapter of the future of Tesla, but a whole new book.” For latest tech stories go to TechDigest.tv Share this: