Tesla Gives Elon Musk a $1 Trillion Pay Package

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• 00:04

  Welcome back to Texas, the home of Tesla.

• 00:10

  At Tesla headquarters in Austin, Texas, shareholders gathered yesterday for their annual meeting.

• 00:17

  It was a pretty flashy affair.

• 00:19

  Our colleague Becky Peterson covers Tesla, and she watched a live stream of the event.

• 00:25

  There was a group of invited shareholders at Tesla's Austin, Texas Gigafactory,

• 00:31

  and there was a stage set up with a bunch of blue and pink lights everywhere.

• 00:37

  Two of Tesla's humanoid robots called Optimus danced on opposite ends of the stage.

• 00:43

  The main question at the meeting was whether shareholders would approve a new pay package for Musk,

• 00:49

  worth $1 trillion.

• 00:52

  It's definitely a record setting.

• 00:54

  I don't think the world has any truly nice.

• 00:59

  And why would Tesla shareholders want to give Musk this much money?

• 01:04

  Primarily, they were trying to solve the problem of Elon being distracted by other companies.

• 01:10

  And we all saw it earlier this year.

• 01:12

  He went to Washington DC and worked on Doge.

• 01:15

  Then he spent summer really focused on XAI.

• 01:20

  The board has said explicitly this package is designed to keep his attention.

• 01:24

  And that to keep his attention, he has to try to achieve a goal that no one else could do.

• 01:32

  At yesterday's meeting, shareholders approved the package by a wide majority.

• 01:37

  With over 75% voting in favor.

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