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Tesla shareholders voted to approve a record $1-trillion pay package for CEO Elon Musk at Thursday’s annual meeting, with more than 75% in favor.

The compensation will be granted incrementally if Musk hits aggressive targets including an $8.5-trillion valuation, 20 million vehicle deliveries and 1 million robotaxis.

Critics say the package is excessive — worth 10 times more than all Fortune 500 CEO compensation combined — though Tesla’s board argues Musk’s retention is essential.

Tesla shareholders voted to approve a $1-trillion compensation plan for Chief Executive Elon Musk, a record-breaking package intended to help the world’s richest person focus on the electric vehicle maker

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