On Thursday, Tesla shareholders will vote on whether to grant Elon Musk an enormous pay package, the largest ever awarded to a chief executive by orders of magnitude, or risk him leaving the company in a huff.

If this sounds weirdly familiar, it's because the same thing unfolded nearly a year ago. At the 2024 meeting, Tesla shareholders were urged to vote in favor of a $50 billion payday for Musk, in order to keep him on the job as CEO. This time the money is much greater - estimated to be worth $1 trillion - and the stakes for Tesla are much higher.

The proposal, put forward by Tesla's board in September, says that Musk must "completely …

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