Tesla shareholders approve 878bn pay plan for Elon Musk

Tesla CEO Elon Musk has scored a resounding victory as shareholders have approved a pay package of as much as $878bn over the next decade, endorsing his vision of morphing the electric vehicle (EV) maker into an AI and robotics juggernaut. Shares of Tesla rose more than 3 percent in after-hours trading after the shareholders voted on Thursday. The proposal was approved with more than 75 percent support. "What we are about to embark upon is not merely a new chapter of the future of Tesla, but a whole new book," he said. "This really is going to be quite the story."