Watch: Elon Musk dances with robot as Tesla approves his $1 trillion pay package

New Delhi,UPDATED: Nov 7, 2025 04:46 IST

Elon Musk celebrated on stage as Tesla shareholders approved a record-breaking $1 trillion pay package at the company’s annual general meeting in Austin, Texas, on Thursday.

The vote, backed by more than 75 per cent of investors, gives Musk the opportunity to become the world’s first trillionaire if he meets a series of ambitious growth milestones.

The package ties his compensation to Tesla’s performance, including boosting the company’s market value to $8.5 trillion from about $1.5 trillion today.

Shares of Tesla rose roughly 1 per cent in after-hours trading following the announcement, Reuters reported.

Moments after the results were announced, Musk stepped onto the stage grinning -- before dancing alongside Tesla’s humanoid robot, Optimus.

"Other shareholder meetings are like snoozefests, but ours are bangers," Musk told the crowd. "Look at this -- this is sick."

The billionaire went on to call the approval "the beginning of a new chapter" for Tesla, saying, "What we are about to embark upon is not merely a new chapter of Tesla’s story, but a whole new book."

Under the terms of the deal, Musk could receive an additional 12 per cent stake in Tesla if he meets a series of audacious goals over the next decade.

The approval came despite opposition from several large institutional investors, including Norway’s sovereign wealth fund, which argued that the deal represented excessive executive pay.

Tesla’s board defended the package, saying Musk’s leadership remained essential to the company’s innovation and expansion. It warned that he could walk away if the plan was rejected.

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