Tesla Shareholders Approve Massive Pay Package for Elon Musk

The board’s proposal, first introduced last September, awards Musk more than 423 million additional shares. This move increases his stake in the automaker from 15 percent to approximately 25 percent. To unlock the full value of the package, Musk must guide Tesla to reach a market capitalization of $8.5 trillion—up from its current $1.5 trillion—while hitting aggressive targets for robotaxi deployment, vehicle sales, and the production of one million humanoid robots.

Musk addressed the crowd at the company’s Austin headquarters flanked by Optimus robots, framing the vote as the start of a new chapter for the firm. In the lead-up to the meeting, the board warned that failing to authorize the payout could risk losing the CEO to his other ventures. While the final tally awaits official filing with the Securities and Exchange Commission, the approval signals a definitive mandate from investors to continue the company's current trajectory under Musk's leadership.