Tesla shareholders have overwhelmingly approved a compensation package for CEO Elon Musk that could be worth as much as $1 trillion in company shares.

More than 75% of shareholders who participated voted to approve the plan, in line with the amount of support Musk has received for past pay packages. As the result was announced, shareholders in the room at Tesla’s Austin, Texas factory began chanting: “Elon! Elon!”

Flanked by dancing Optimus robots, Musk said Thursday that “what we’re about to embark upon is not merely a new chapter of the future of Tesla, but a whole new book.”

Musk will not be awarded $1 trillion right away, under the deal. Nor will he receive a salary. But he stands to make hundreds of billions of dollars and gain more control of Tesla if he helps the company achieve

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