Tesla shareholders on Thursday (November 6) voted overwhelmingly at the company’s annual meeting in Austin, Texas, to grant Elon Musk, the company's CEO, enough stock to potentially make him history's first trillionaire.

The huge pay package would increase Musk’s holding in Tesla from about 12 per cent to potentially more than 25 per cent.

A jubilant Musk told the shareholders, “I’d like to just give a heartfelt thanks to everyone who supported the shareholder votes. I super appreciate it.”

The package that has been agreed upon aims to ensure that Musk remains with Tesla for at least the next seven-and-a-half years.

Tesla chairperson Robyn Denholm during the meeting urged the shareholders to back the proposal, arguing that retaining Musk in the company was essential to Tesla’s future,

See Full Page