Musk’s extensive holdings, plus his loyal fan base, meant the vote was never really in doubt.

Tesla shareholders voted Thursday to approve Elon Musk’s staggering new pay package, in a move aimed at retaining the controversial CEO’s leadership during a time of great upheaval for the automaker. Over 75 percent of shares voted in favor of the proposal.

The vote gives Musk enormous sway over his electric vehicle company, as well as awards him with the largest corporate payout in history. The final tally is expected to be disclosed in a Securities and Exchange Commission filing in a few days.

The proposed pay package, which was put forward by the board last September, would award Musk more than 423 million additional shares, increasing his stake to about 25 percent from its current level of 15 percent. In order to receive the full compensation, Musk would need to achieve a series of milestones, including raising Tesla’s market capitalization from its current $1.5 trillion to $8.5 trillion in 10 years. Musk must also put into service 1 million robotaxis and sell 12 million more cars, 10 million Full Self-Driving subscriptions, and 1 million humanoid robots.

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