Tesla shareholders on November 6 approved Elon Musk’s $1 trillion pay package. 75% of the shareholders voted in favour of the package that was first proposed in September this year. The $1 Trillion pay package will now be finalised in a Securities and Exchange Commission (SEC) filing in coming days. Dell CEO Michael Dell congratulated Elon Musk on the approval, highlighting the strong 75% majority vote. In a post on X (formerly Twitter), Dell wrote “75% is quite a decisive statement by @Tesla shareholders. Congratulations @elonmusk.”This is not the first time that Michael has supported Musk’s $1 trillion pay package. Earlier this month, he shared a post asking shareholders to vote in favor of the package. He then wrote:“Vote FOR @elonmusk. The award is only achieved IF he hits exceptionally ambitious market-cap and operational milestones—if he falls short, he gets nothing. If he succeeds, shareholders will win big through unprecedented value creation, and he will earn added voting rights to continue driving @Tesla’s long-term vision.”

Performance targets tied to Elon Musk’s $1 trillion pay package

While the approval gives Elon Musk enormous influence over the company, the compensation consists of 12 separate stock grants. The Tesla CEO will receive these shares if Tesla achieves specific performance targets over the next 10 years. These requirements include:

Tesla’s board had argued that failing to approve the massive payout risked losing Musk to other interests, positioning the deal as essential for securing the CEO’s commitment to Tesla’s future as a leader in AI and robotics.