Tesla shareholders have overwhelmingly approved a groundbreaking pay package for CEO Elon Musk, potentially worth nearly $1 trillion. The deal, ratified by 75% of shareholders at the company’s annual general meeting in Austin, Texas, ties Musk’s compensation to ambitious performance milestones over the next decade. To maximize his payout, Musk must elevate Tesla’s market value from $1.4 trillion to $8.5 trillion and deploy one million self-driving ‘Robotaxi’ vehicles commercially. The agreement has sparked controversy, with critics questioning its scale, but Tesla’s board defended it as essential to retaining Musk, whom they consider indispensable. The announcement was met with enthusiastic applause, with Musk taking the stage to celebrate, declaring, ‘What we’re about to embark upon is not merely a new chapter of the future of Tesla, but a whole new book.’ Despite the optimism, some analysts expressed concerns over Musk’s focus on the Optimus robot rather than Tesla’s core electric vehicle business. Musk also addressed Tesla’s Full Self-Driving (FSD) technology, claiming the company is ‘almost comfortable’ allowing drivers to ‘text and drive essentially,’ amid ongoing regulatory scrutiny. Tesla’s stock saw a modest rise in after-hours trading, reflecting investor confidence in Musk’s leadership. However, the pay package faced opposition from major institutional investors, including Norway’s sovereign wealth fund and CalPERS, leaving Musk reliant on Tesla’s retail investors. The deal follows a previous compensation plan rejected by a Delaware court, prompting Tesla to reincorporate in Texas. The Delaware Supreme Court is currently reviewing the case.