Tesla shareholders have given their approval to CEO Elon Musk's unprecedented pay package that could reach nearly $1 trillion over the next ten years. According to BBC 's coverage, the remarkable deal received support from 75% of voting shareholders during the company's annual meeting held in Austin, Texas, on Thursday, Nov. 6.

The announcement was met with thunderous applause from the audience, and Musk celebrated by dancing on stage to chants of his name. The Tesla board defended the massive package by arguing that losing Musk would be disastrous for the company. BBC reports that Musk, already the world's richest person, must achieve ambitious targets, including delivering 20 million vehicles and eventually raising Tesla's market value to $8.5 trillion to earn the full payout.

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