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Tesla shareholders approve Musk's $1 trillion pay package
- Tesla shareholders approve Elon Musk's pay package, potentially worth $1 trillion, at a Texas meeting.
- The plan comprises 12 stock-option tranches tied to aggressive performance targets.
- Shareholders approved the package with over 75% support, per Tesla.
- Musk stated he hasn't been paid in years and values the new structure for control.
- Tesla also reelected Ira Ehrenpreis, Joe Gebbia, and Kathleen Wilson-Thompson as directors.
- Investors approved a proposal to invest in xAI, Musk's AI venture, though many abstained.
- Tesla outlined expansion plans, including a 1,000,000-unit Optimus line in Fremont and a 10,000,000-unit line at Giga Texas.
- Robotaxi tests will expand to Miami, Dallas, Phoenix, and Las Vegas.
- The Roadster is set to be revealed on April 1, 2026, with production 12–18 months after.
- Norway's sovereign wealth fund opposed the package, citing concerns about size and risk.
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