Shareholders at Tesla's annual general meeting in Austin approved a 10-year "mega peformance equity award" that could catapult Elon Musk to trillionaire status.

Tesla boss Elon Musk has had a record-breaking pay package that could be worth nearly $1tn (£760bn) approved by shareholders. The unprecedented deal was approved by 75% of votes and drew huge applause from the audience at the firm's annual general meeting on Thursday.

O THER SHAREHOLDER meetings are like snooze fests,” declared Elon Musk, Tesla’s bumptious boss, as he took to the stage on November 6th. “Ours are bangers.” Napping while Mr Musk danced along to a funk soundtrack with one of the company’s Optimus androids would indeed have been difficult.

Elon Musk is set to become the world’s first trillionaire. Tesla announced on Thursday that shareholders have voted to approve the biggest pay package in corporate history for Musk, the company’s CEO.

Elon Musk won a shareholder vote that would give him a trillion dollars' worth of Tesla stock if he hits certain targets over the next decade.

Musk, the world's richest person, has to meet several ambitious product and financial milestones to unlock the trillion-dollar pay package.

Elon Musk could soon claim the title of the highest-paid CEO in history after Tesla shareholders approved a record-shattering pay package — a resounding show of confidence that comes with equally astronomical expectations.