Tesla’s board has proposed a $US1 trillion compensation plan for CEO Elon Musk in what would be the largest corporate pay package in history, underscoring the hold Musk has over the carmaker as it attempts to transform into an AI and robotics powerhouse.

The world’s richest person has consistently asked for a bigger stake in the company to gain more control, even as a legal battle over his 2018 pay package - then valued at a mere $US56 billion - continues. The newly proposed award is roughly 18 times the size of the contested plan and is close to the company’s current market valuation.

The plan highlights Tesla’s reliance on Musk as it faces slowing EV demand, rising competition from Chinese rivals and pressure to deliver on its AI ambitions.

“While bold compensation tied to performan

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