Tesla investors back $56bn Musk pay deal

Tesla shareholders have backed a record-breaking pay package for boss Elon Musk and approved a plan to move the firm's legal headquarters to Texas.

The deal was blocked earlier this year by a judge in Delaware over concerns it was unfair to shareholders.

The vote is a victory for the multi-billionaire, who had campaigned fiercely for the payout, which is worth up to $56bn (£43.9bn). The exact amount depends on the Tesla share price.

"Hot damn, I love you guys," he told a crowd of enthusiastic shareholders who had gathered in Texas for the firm's annual meeting.

The deal is worth more than 3,000 times what the top-earning boss in the US made last year.