Tesla shareholders approve 1 trillion pay package for Musk

The $1 trillion pay agreement puts Elon Musk on track to become the world's first trillionaire. Tesla shareholders approved a $1 trillion compensation package for CEO Elon Musk, the largest payout ever awarded to a corporate leader. More than 75% of votes were cast in favor of the unprecedented pay plan, the company said Thursday at its annual meeting. The outcome caps a weekslong campaign by the electric vehicle maker's board, its CEO and prominent retail investors to build support. The pay agreement clears a path for Musk, the world's richest person, to become the first ever trillionaire and expand his stake in Tesla to 25% or more over the next decade.