<span>STORY: UPSOT</span><span>“….approved!” </span><span>Tesla CEO Elon Musk won shareholder approval Thursday for the largest corporate pay package in history.</span><span>This was after investors approved a plan to transform the EV maker into an AI and robotics behemoth.</span><span>:: File</span><span>Although his far-right political rhetoric has damaged the Tesla brand this year, the vote was crucial to Tesla’s future and its valuation, which is tied to Musk’s vision.</span><span>Musk, currently the richest person in the world, could own $1 trillion in stock over the next decade and earn a net income of $878 billion after required payments.</span><span>Musk took to the stage of the company’s annual meeting in Austin, Texas, accompanied by dancing robots.</span><span>Musk’s goals for the next decade include the company delivering 20 million vehicles, having 1 million robotaxis in operation, selling 1 million robots and making underlying profits of up to $400 billion.</span><span>“As far as I can see, the only option is to build a very large chip factory.”</span><span>However, in order to be paid, Tesla’s share value must increase together, first from the current 1.5 trillion dollars to 2 trillion dollars, and then to 8.5 trillion dollars.</span><span>Achieving each step, which includes an operational goal and a valuation phase, earns Musk 1% of the shares.</span><span>If Musk hits all of them, he would be entitled to 12% of the shares, or about $1 trillion.</span><span>Some large investors opposed the plan, saying the pay could reduce shareholder value.</span><span>Tesla’s board of directors had said that Musk could resign if the salary package was not approved.</span><span>The vote allayed investors’ concerns that Musk’s focus would shift to running his other companies, including rocket maker SpaceX and xAI.</span><span>Musk said he was more interested in the higher voting share he would receive from Tesla as part of the pay package than the money. </span><span>At this very moment, he is preparing to sell a “robot army”.</span>
