Tesla CEO Elon Musk has secured a major victory after shareholders approved his massive pay package of up to $878 billion over the next decade. The proposal received over 75% support, with shares rising more than 3% in after-hours trading. The new plan rewards Musk’s vision for transforming Tesla into an AI and robotics leader, with goals including delivering 20 million vehicles, operating one million robotaxis, selling one million robots, and earning $400 billion in core profit.
Musk expressed his gratitude to shareholders, calling it “not merely a new chapter” but “a whole new book.” The approval comes after opposition from some major investors, including Norway’s sovereign wealth fund. It also alleviates concerns that Musk’s focus has been diluted with his work in politics and other ventures. Under the new plan, Musk could earn up to $878 billion in Tesla stock over 10 years, provided the company meets certain milestones.
The pay package is contingent on Tesla’s stock value reaching specific targets, including increasing from $1.5 trillion to $2 trillion and eventually $8.5 trillion. This structure aims to align Musk’s interests with those of shareholders, ensuring that his compensation is tied to the company’s success.
Source: https://www.aljazeera.com/economy/2025/11/6/tesla-shareholders-approve-878bn-pay-plan-for-elon-musk