Tesla shareholders have approved a record $1 trillion pay package for Chief Executive Elon Musk, the largest compensation package ever awarded to an executive in corporate history.
The approval came Thursday during Tesla’s annual meeting at its Austin headquarters, where Musk took the stage flanked by two dancing humanoid robots as shareholders cheered. More than 75% of votes supported the plan, aimed at keeping the world’s richest man focused on Tesla’s long-term growth.
“What we’re about to embark upon is not merely a new chapter of Tesla’s story, but a whole new book,” Musk said, urging investors to “hang onto your Tesla stock.”
The vote followed weeks of debate among major shareholders, with some questioning the massive payout amid slowing sales, layoffs, and stock volatility. Others argued that Musk’s leadership remains key as Tesla pivots toward artificial intelligence and robotics.
The event turned celebratory as Musk danced on stage alongside two “Optimus” robots under pink and blue strobe lights, symbolizing Tesla’s push beyond electric vehicles.
“With AI and robotics, you can actually increase the global economy by a factor of 10 or 100,” Musk said, blending futuristic vision with corporate ambition.
The approval reaffirms Musk’s dominant role at Tesla as he continues to position the company at the intersection of technology, innovation, and automation.