Tesla Shareholders Approve Musk's $1 Trillion Pay Package

Tesla shareholders have approved the largest compensation package in corporate history for CEO Elon Musk, expressing their support for his vision of transforming the electric car company into an artificial intelligence and robotics giant.

The proposal was approved by over 75% of the votes, after which Musk took the stage at the company's annual meeting at its factory in Austin, Texas, accompanied by dancing robots. This decision is crucial for the future of Tesla and its market valuation, which is largely dependent on Musk's ambitious plans to create self-driving cars, a network of robotaxis in the US, and to sell humanoid robots.

Musk, who is already the world's richest person, could receive up to $1 trillion in stock over the next decade, although the net value after mandatory payments will be $878 billion.

The company's board had warned that Musk might leave without the approval of this package. Although some investors considered it too expensive and unnecessary, many saw it as a way to keep Musk at the company and ensure the long-term interests of shareholders, as the compensation is tied to specific achievements set for the company.

"What we are about to begin is not just a new chapter in Tesla's future, but a whole new book," Musk announced to the enthusiastic shareholders. He made a series of promises, from starting the production of the Cybercab (a two-seater, steering-wheel-less robotaxi) in April to unveiling the next-generation Roadster electric sports car.

For Musk to receive his compensation, Tesla must achieve a series of ambitious goals. Among them are the production of 20 million cars per year, the launch of 1 million robotaxis, the sale of 1 million robots, and securing up to $400 billion in core profit. However, the main condition for payment is that the company's stock value must grow in parallel, from the current $1.5 trillion to first $2 trillion, and ultimately to $8.5 trillion. Surpassing each milestone will reward Musk with 1% of the company's shares.

Thus, despite the opposition of some large investors and advisory firms, the majority of Tesla shareholders gave a vote of confidence to Musk's vision, inextricably linking his future to the company's success.