Musk gets approval for bumper Tesla payout but, unlike his robot, there are strings attached

Tesla is awarding its CEO Elon Musk a package worth a possible $1 trillion, however, it relies in part on a dramatic increase in the value of the electric vehicle manufacturer.

The agreement, which has drawn criticism from shareholders, including Norway's sovereign wealth fund, was approved with a vote of more than 75 percent. The approval was greeted with whoops and cheers during Tesla's annual shareholder meeting.

While the $1 trillion figure is eye-catching, it is by no means guaranteed to materialize for the CEO. Twenty million Tesla vehicles and one million robots must be delivered over a decade. Tesla's market cap must also rise, first to $2 trillion from the current $1.4 trillion, and then eventually to $8.5 trillion. Musk's award is not dependent on hitting every milestone, though. He will receive payment for each one achieved. He only gets the full $1 ...