Tesla shareholders on Thursday approved a new pay package for CEO Elon Musk that is potentially worth up to $1 trillion over a decade, despite some prominent investors criticizing the size of the compensation plan.

The plan, one of the richest compensation packages in corporate history, would be delivered to Musk — the richest person in the world, with a net worth of $437 billion — if Tesla hits certain performance goals under his leadership. Meeting such targets would make him the world's first trillionaire.

Norway's sovereign wealth fund, which holds a stake in Tesla, on Tuesday said it would vote against the pay package, while investment advisory firms Glass Lewis and ISS also recommended shareholders vote against it.

The vote comes at a delicate time for Tesla, with the elec

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