Welcome back to Texas, the home of Tesla.

At Tesla headquarters in Austin, Texas,

shareholders gathered yesterday for their annual meeting.

It was a pretty flashy affair.

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

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

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

Two of Tesla's humanoid robots called Optimus danced on opposite ends of the stage. The main question at the meeting was whether shareholders would approve a new pay package for Musk, worth $1 trillion.

It's definitely record setting.

I don't think the world has any trillionaires.

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

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

And we all saw earlier this year, he went to Washington, D.C., and worked on Doge.

Then he spent summer, really focused on XAI.

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

and that to keep his attention, he has to try to achieve a goal that no one

else could do.

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

With over 75% voting in favor.

Uproved.

Elon Musk came on stage.

He danced a little bit.

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