Kathmandu, Nov. 7 -- Tesla shareholders have approved a record-breaking pay package for CEO Elon Musk, which could reach nearly $1 billion, the BBC reported. About 75% of votes backed the plan during the company's annual meeting in Austin, Texas, where Musk received loud applause and later danced on stage to chants of his name.

The deal ties Musk's payout to ambitious performance goals, including boosting Tesla's market value from around $1.4 trillion to $8.5 trillion over the next decade and deploying one million self-driving Robotaxi vehicles. If achieved, Musk would receive hundreds of millions of new shares, the BBC said. Critics called the package excessive, but Tesla's board argued that Musk might quit without it and that his lead...