Tesla shareholders voted overwhelmingly on Thursday to approve a historic pay package for CEO Elon Musk that could be worth as much as $1 trillion, making it one of the largest compensation deals in corporate history.
More than 75 percent of shareholders backed the deal during the company’s annual meeting in Austin, Texas, according to a Tesla spokesperson. The vote reaffirmed support for Musk’s leadership following months of debate over whether such a massive payout benefits the company’s long-term growth.
“What we are about to embark upon is not merely a new chapter of the future of Tesla, but a whole new book,” Musk said at the meeting, standing beside Tesla’s humanoid robots. “This really is going to be quite the story.”