(NewsNation) — Tesla shareholders on Thursday awarded a massive pay package for CEO Elon Musk that could make the divisive tech titan and former White House adviser the world’s first trillionaire.

More than 75% of shareholders who gathered at the EV maker’s Austin, Texas, headquarters approved a compensation package granting Musk — already the world's richest man, with an estimated fortune of $500 billion — stock worth $1 trillion for hitting performance benchmarks over the next decade.

The pay deal includes 12 potential “tranches” of shares for Musk and increased voting power as his ownership in the company jumps from about 13% to 25%, CNBC reported. The initial tranche of stock is released if Tesla’s market capitalization grows to $2 trillion from the current market cap of $1.54 trilli

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