Shareholders of Tesla Group, at their general meeting yesterday (Thursday) in Austin, Texas, where the headquarters of the industry pioneer in electric car manufacturing is based, approved by more than 75% a resolution for a new compensation plan for chief executive Εlon Musk, according to a company spokesman.

The world’s richest man’s 10-year “pay package” is broken down into 12 tranches, depending on meeting targets and the group’s financial performance, and sees him receiving between $878 billion and $1 trillion, including stock, as he realises his vision for the company to thrive in the fields of artificial intelligence and robotics.

Among the goals are delivering 20 million vehicles to customers, operating 1 million robotic taxis, selling 1 million robots and securing $400 billion in net profits. To receive the projected amount Tesla’s market capitalization would need to increase from $1.5 trillion today to $2 trillion to $8.5 trillion.