Tesla shareholders on Thursday approved a compensation plan worth up to $1 trillion, capping a yearslong saga over Musk's pay.

Tesla shareholders gather Thursday to decide whether to grant Musk, the company's CEO, enough stock to potentially make the richest person in the world even richer.

Shareholders approved a plan to grant Mr. Musk shares worth nearly $1 trillion if he meets ambitious goals, including vastly expanding the company’s stock market valuation.

If approved, the new pay plan would give Musk more than a 25% stake in the company for meeting specific milestones.