Tesla CEO Elon Musk’s $1 trillion pay package has been approved by the company’s shareholders, making it the largest executive compensation plan on record. The historic compensation package was voted in favor by 75% of shareholders at Tesla’s annual meeting in Austin, Texas.
Under the pay plan, Musk stands to receive up to about 12% of Tesla’s stock, valued at approximately $1 trillion, contingent upon Tesla reaching a market capitalization of $8.5 trillion and meeting other operational milestones over a 10-year period. Currently, Tesla’s market valuation is around $1.45 trillion, with Musk owning about 13% of the company.
Following the approval, Musk celebrated the momentous decision in a unique way. Instead of a traditional press conference, he engaged in a celebratory dance with an Optimus robot, Tesla’s humanoid robot, in a video that quickly went viral on social media platforms.
The video captured Musk’s spontaneous and slightly awkward dance moves, showcasing his distinctive persona and marking a memorable moment in his career as Tesla’s CEO.
