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

Breaking News: Tesla Shareholders Approve Record $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% of votes at the company's annual general meeting on Thursday in Austin, Texas. The unprecedented package rewards Musk with hundreds of millions of new shares if he meets various targets, including drastically raising the electric car firm's market value over 10 years. Musk, already the world's richest man, took to the stage after the announcement and danced to chants of his name. The Tesla board argued that Musk might leave the company if the deal was not approved, citing the firm's inability to afford losing him. The scale of the potential payout has drawn criticism, but the board maintained that it was necessary to secure Musk's commitment. The deal is set to have an immediate impact on Tesla's stock price and market value. The company's shares are expected to rise in response to the news, but investors are also likely to scrutinize the deal's terms and potential risks. This is a developing story, and we will provide updates as more information becomes available.