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

Breaking News: Tesla Shareholders Approve $1tn Pay Deal for Elon Musk Tesla shareholders have approved a record-breaking pay package for CEO Elon Musk, worth nearly $1 trillion, at the company's annual general meeting in Austin, Texas. The deal was approved by 75% of votes, with Musk set to receive hundreds of millions of new shares if he meets various targets over the next decade. The unprecedented payout has drawn criticism, but the Tesla board argued that Musk might leave the company if it was not approved. Musk took to the stage after the announcement, dancing to chants of his name and vowing to lead the company into a "new chapter of the future of Tesla." The deal requires Musk to drastically raise the electric car firm's market value over 10 years. If he succeeds, he will be rewarded with a massive payout, cementing his position as the world's richest man. The approval of the pay package has sent shockwaves through the business world, with many questioning the scale of the potential payout. The Tesla board has defended the deal, citing Musk's importance to the company. 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.