Elon Musk's 1tn pay deal approved by Tesla shareholders

Elon Musk's $1tn pay deal approved by Tesla shareholders Tesla shareholders have approved a record-breaking pay package for boss Elon Musk that could be worth nearly $1tn (£760bn). The unprecedented deal was approved by 75% of Tesla shareholders who cast votes at the firm's annual general meeting on Thursday. The deal requires Musk, who is already the world's richest man, to drastically raise the electric car firm's market value over a period of years. If he meets various targets, he will be rewarded with hundreds of millions of new shares. The scale of the deal is controversial, but the Tesla board argued that Musk might leave the company if it was not approved - and that it could not afford to lose him.