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The package includes 303 million options to buy shares at a reduced price, according to HCAMag.com.
For investors, it could mean a stronger company with an active CEO at the helm.
In recent times, Musks attention has been divided between Tesla and his other ventures.
One investor asked if that goal would be possible to achieve without Musks leadership.
I think I am a helpful accelerant to that future, Musk replied.
Not all investorswere in favor of the pay raise or in support of Musks renewed enthusiasm for Teslas future.
In the past month, the stock price has jumped by roughly 10%.
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