Shareholders approved the pay package with as much as 75 percent support on Thursday.By ReutersPublished On 6 Nov 20256 Nov 2025Click here to share on social mediashare2ShareTesla CEO Elon Musk has scored a resounding victory as shareholders have approved a pay package of as much as $878bn over the next decade, endorsing his vision of morphing the electric vehicle (EV) maker into an AI and robotics juggernaut.Shares of Tesla rose more than 3 percent in after-hours trading after the shareholders voted on Thursday. The proposal was approved with more than 75 percent support.Recommended Stories list of 4 itemsend of listMusk took to the stage in Austin, Texas, along with dancing robots. “What we are about to embark upon is not merely a new chapter of the future of Tesla, but a whole new book,” he said. “This really is going to be quite the story.”He added: “Other shareholder meetings are like snooze fests, but ours are bangers. I mean, look at this. This is sick.”Shareholders also re-elected three directors on Tesla’s board and voted in favour of a replacement pay plan for Musk’s services because a legal challenge has held up a previous package.The vote, analysts have said, is a positive for Tesla’s stock, whose valuation hangs on Musk’s vision of making vehicles drive themselves, expanding robotaxis across the United States and selling humanoid robots, even though his far-right political rhetoric has hurt the Tesla brand this year.A win for Musk was widely expected as the billionaire was allowed to exercise the full voting rights of his roughly 15 percent stake after the carmaker moved to Texas from Delaware, where a legal challenge has held up a previous pay rise.The approval comes even after opposition from some major investors, including Norway’s sovereign wealth fund. Advertisement Tesla’s board had said Musk could quit if the pay package was not approved.The vote will also allay investor concerns that Musk’s focus has been diluted with his work in politics as well as in running his other companies, including rocket maker SpaceX and artificial intelligence startup xAI.The board and many investors who lent their endorsement have said the nearly $1 trillion package benefits shareholders in the longer run, as Musk must ensure Tesla achieves a series of milestones to get paid.Goals for Musk over the next decade include the company delivering 20 million vehicles, …
