Tesla shareholders have approved a record-breaking $1 trillion pay package for CEO Elon Musk, with 75% of votes in favor. This unprecedented deal, which will reward Musk with hundreds of millions of new shares if he significantly raises the company's market value over 10 years, was met with criticism from some but hailed by Tesla's board as essential to retain him.

• Musk needs to increase Tesla's market value to $8.5 trillion from $1.4 trillion and deploy one million Robotaxi vehicles to maximize his payout.
• The deal was rejected by major institutional investors, including Norway’s sovereign wealth fund and the California Public Employees’ Retirement System (CalPERS), but passed with strong support from retail investors.
• Musk celebrated the vote by dancing on stage and emphasized the importance of the Optimus robot, while analysts expressed concern over his focus amidst ongoing challenges for Tesla's electric vehicle business and its Full Self-Driving (FSD) feature, which is under investigation by US regulators.