(MENAFN) Tesla shareholders have approved a record-breaking compensation plan for CEO Elon Musk, potentially worth up to $1 trillion over the next decade if the company meets a series of ambitious performance targets.

The package grants Musk 423.7 million Tesla shares to be distributed in 12 tranches, contingent on milestones such as producing 20 million electric vehicles, deploying 1 million robotaxis, and reaching $400 billion in EBITDA and an $8.5 trillion market capitalization.

Tesla Chair Robyn Denholm warned in a letter to investors that rejecting the proposal could risk losing Musk’s “time, talent, and vision.”

Over 75% of shareholders reportedly backed the plan, though several major investors voiced opposition. Norway’s sovereign wealth fund, Tesla’s largest institutional investor, voted against the deal, citing concerns over share dilution, “key-person risk,” and weak board oversight.

Musk lashed out at critics, labeling proxy advisory firms such as Institutional Shareholder Services and Glass Lewis “corporate terrorists” and “asinine.”

Supporters argue that the compensation structure ties Musk to Tesla for at least eight to ten years and aligns his goals with those of shareholders as the company expands into AI, robotics, and autonomous vehicles.

However, corporate governance experts warn the plan sets a controversial precedent for executive pay.

Musk remains the world’s richest person, with a net worth of $487.5 billion, according to Forbes. If all targets are met, his ownership stake in Tesla could climb from about 15% to 29%; if not, the payout would be substantially reduced.

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