Tesla shareholders approve Musk's $1 trillion compensation package

Tesla (TSLA) shareholders voted Thursday evening (Eastern Time) to approve a roughly $1 trillion compensation package for CEO Elon Musk.

Although Tesla's stock price closed lower during regular trading hours, it rose against the trend during the after-hours annual shareholder meeting.

In the lead-up to the vote, Musk emphasized that the compensation proposal was not merely about pay, but aimed at increasing his stake in Tesla to approximately 25%. He further hinted that if shareholders rejected the plan, he might consider leaving the company, or at least no longer fully committing to the development of key projects such as the Optimus humanoid robot.

Currently, Musk is Tesla's largest shareholder with a 15.8% stake. If the compensation package is approved and Musk successfully achieves the predetermined performance targets, he is expected to gain more than 25% voting control, further consolidating his influence in corporate governance.