The move comes as a significant boost for Musk, whose compensation plan had faced opposition earlier this year from a Delaware judge.

Scottish Mortgage, which first purchased Tesla shares in June 2013, has been a long-term believer in the company's mission. On its website, the investor recognizes Musk as a "key" contributor to Tesla's success, acknowledging his expertise and transformative role in accelerating the global transition to electric vehicles. While Scottish Mortgage emphasizes that Tesla's success is not solely dependent on Musk, it acknowledges his significance as a major driving force behind the company.

The Financial Times first reported Scottish Mortgage's decision to support Musk's pay package, highlighting the investor's belief in the CEO's vision and his instrumental role in disrupting the automotive industry.

Tesla, aware of the potential consequences of Musk not receiving the pay package, has been actively seeking shareholder and investor support. The company understands that losing Musk could have far-reaching implications, including the possibility of him pursuing other ventures and the potential impact on his other demands.

Tesla board members, including Robyn Denholm, have begun traveling to various locations to rally support for Musk's pay package. Furthermore, the company has enlisted the assistance of a strategic advisor to garner investor backing.

Musk's pay package was initially approved several years ago, and its cancellation required a separate legal effort. If Musk does not receive the compensation that many investors believe he is owed, Tesla runs the risk of losing his leadership and the potential fallout from other demands he has made.

While Scottish Mortgage has shown its support, not all investors are on board with Musk's pay package. The upcoming Tesla Shareholder Meeting will be a crucial indicator of the level of support he has from stakeholders, ultimately determining the fate of his compensation plan.

As the battle over Musk's pay package intensifies, all eyes will be on the Tesla Shareholder Meeting, where the fate of one of the largest remuneration plans in recent history will be decided.