On November 6 (local time), during Tesla's annual shareholder meeting, shareholders voted with a 75% majority to approve CEO Elon Musk's substantial compensation package. According to the new plan, Musk stands to earn compensation valued at up to $878 billion through Tesla stock over the coming decade. Should he meet all the incentive targets, he will be awarded 423 million new shares, which would elevate his stake in the company to roughly 25%.

To be eligible for these rewards, Musk is required to remain CEO for the next seven and a half years. He must also oversee an increase in Tesla's market value from approximately $1.5 trillion to over $8.5 trillion within the next ten years, while achieving core profits of $400 billion. During his address at the meeting, Musk expressed strong confidence in Tesla's Full Self-Driving (FSD) technology, asserting that it will eventually enable drivers to send text messages safely while the vehicle is in motion. He also shared optimistic views on the progress of overseas regulatory approvals, hinted at the commencement of mass production for robotaxis by April 2026, and suggested that robotics could become Tesla's most significant product offering.

Analysts have noted that the approval of this compensation package is likely to have a positive impact on Tesla's stock performance. In September of this year, Tesla first unveiled details of Musk's compensation plan. Subsequent financial results for the third quarter, released on October 22, revealed that while the company's revenue reached a new record high, its net profit saw a year-on-year decline of 37%.