Tesla shareholders endorsed a pay package for Elon Musk that could make him the world's first trillionaire.

Why it matters: Tesla chair Robyn Denholm had warned that Musk could leave if shareholders rejected the compensation plan, while critics said it was exorbitant and unnecessary.

Driving the news: Tesla disclosed Thursday during its annual meeting that stockholders had signed off on the pay package worth up to nearly $1 trillion, which ties Musk's compensation to ambitious growth targets. • More than 75% backed it, general counsel Brandon Ehrhart said. • "I'd like to give a heartfelt thanks to everyone who supported the shareholder votes," Musk said. "I super appreciate it."

Flashback: The pay package serves as a replacement for a deal that a Delaware judge had overturned. • T

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