DEVELOPING: Tesla Shareholders Approve Record-Breaking $1tn Pay Deal for Elon Musk

Breaking News: Tesla Shareholders Approve Record-Breaking $1tn Pay Deal for Elon Musk Tesla shareholders have approved a record-breaking pay package for CEO Elon Musk, worth nearly $1 trillion. The deal was approved by 75 shareholders at the company's annual general meeting in Austin, Texas, on Thursday. Under the deal, Musk will receive hundreds of millions of new shares if he meets various targets, including drastically increasing the company's market value over several years. The Tesla board argued that Musk might leave the company if the deal was not approved, and that it could not afford to lose him. The deal has sparked controversy, but the Tesla board maintains that it is necessary to retain Musk's leadership. The CEO has been instrumental in driving the company's growth and innovation. The meeting drew loud applause from the audience, with Musk taking to the stage to dance and chant his name. He described the deal as a "new chapter" for Tesla, and praised the company's shareholders for their support. This is a developing story, with further details and reactions expected in the coming hours and days. We will continue to provide updates as more information becomes available.