Tesla shareholders have approved CEO Elon Musk’s compensation plan, valued at up to $1 trillion, in what marks the largest corporate pay package in history. The proposal received more than 75% support at Tesla’s annual meeting at its Texas factory, where Musk appeared on stage alongside the company’s dancing robots, according to Reuters.
The board argued the plan was crucial to retaining Musk and driving Tesla’s long-term growth, despite criticism from some investors who called it excessive. Musk’s compensation structure is based on a series of ambitious performance milestones, including targets such as Tesla producing 20 million vehicles...