Tesla shareholders have approved a massive $1 trillion pay package for CEO Elon Musk, marking one of the largest executive compensation plans in corporate history. The proposal received over 75% shareholder support at the company’s annual meeting on Thursday, according to AFP.

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Package Details and Potential Value Musk’s Response and Board Position Musk’s Net Worth and Control

The 12-tranche stock-based package was designed to ensure Musk’s continued service as Tesla advances its AI and robotics ambitions. The plan had been introduced by Tesla’s board in September 2025, with Glass Lewis and ISS—two major proxy advisors—recommending a vote against it, as reported by CNBC.

Package Details and Potential Value

The approved plan grants Musk 12 tranches of shares, which he can earn if Tesla meets specific financial and operational milestones over the next decade.

If Tesla achieves an $8.5 trillion market capitalization, Musk could unlock the full payout, worth about $1 trillion. Achieving all milestones would also increase Musk’s ownership stake from 13% to 25%, adding over 423 million shares to his holdings.

Based on current estimates, securing all shares under the package would be equivalent to earning around $275 million per day over the next 10 years, surpassing any executive pay plan in history, CNN reported.

Musk’s Response and Board Position

Following the approval, Musk expressed gratitude toward investors and the board, saying, “I super appreciate it.”

Tesla’s board had earlier cautioned that a “no” vote might have led Musk to resign as CEO, as he had sought greater control over the company. The board reaffirmed that the package was essential for retaining Musk’s leadership while pursuing Tesla’s long-term innovation goals.

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Musk’s Net Worth and Control

According to Bloomberg’s billionaire tracker, Musk’s net worth now stands at $473 billion, largely due to his holdings in Tesla, SpaceX, and xAI. The new package further strengthens his voting power and control within Tesla as it expands its technological and product roadmap.