The Digest:
Tesla shareholders have overwhelmingly approved a record-breaking compensation package for CEO Elon Musk, potentially worth up to $1 trillion. The deal, ratified by 75% of votes, ties Musk's rewards to audacious milestones, including producing 20 million vehicles and achieving a market value of $8.5 trillion. Musk celebrated the outcome, declaring it the start of a "whole new book" for the company.
Key Points:
- Shareholders approved the package with 75% of the vote
- Musk must increase Tesla's value to $8.5 trillion over 10 years
- Targets include 20M cars, 1M robots, and 10M self-driving subscriptions
- He will receive no salary, only stock grants upon hitting goals
- Major institutional investors like Norway's wealth fund voted no
- The deal follows a legal rejection of a previous 2018 package
- Musk's focus on Optimus robots signals a shift beyond electric vehicles
Sources: BBC News
