'Musk is a one-off' Tesla investors keep the faith with $1tn incentive

For all the headlines about an on-off relationship with Donald Trump, baiting liberals and erratic behaviour, Tesla shareholders are loth to part with Elon Musk.

- Dan Milmo Global technology editor

Investors in the electric vehicle maker voted on Thursday to put the world’s richest person on the path to becoming the world’s first trillionaire, despite controversy that is now seemingly intrinsic to his public profile.

Shareholders approved the $1tn (£760bn) compensation plan, which could yield the largest corporate payout in history if he meets a series of tough-looking goals, not least pushing Tesla from its market value of $1.4tn to $8.5tn.

Musk’s fortune, which includes a stake of about 12.5% in Tesla, is already worth $461bn (£350bn).

“Musk is Tesla and Tesla is Musk,” said Dan Ives, a managing director at the US financial firm Wedbush. “Despite some of the brand damage Musk has caused to Tesla during his political stint, the AI future at Tesla depends on Elon.”

Ives is a self-described Tesla “core bull” who nonetheless has consistently raised concerns about the damage the chief executive's political stance has done to one of the world’s best known brands.