Elon Musk is on track to potentially become the world’s first trillionaire following approval by Tesla shareholders. The company has greenlit a new compensation plan for its CEO, which could see Musk unlock $1 trillion in Tesla stock if specific benchmarks are met over the next ten years.

For Musk to achieve trillionaire status, Tesla’s total stock value must surge from its current $1.5 trillion to over $8.5 trillion. The agreement stipulates that Musk will not receive a salary but will earn an additional 12% of the company’s stocks by 2035 if certain targets are reached. These include delivering 20 million electric vehicles, having 10 million active full self-driving subscriptions, introducing one million humanoid robots, and launching a commercial service with one million Tesla taxis.

Even if Musk falls short of the primary goals, the package could still yield substantial rewards. For instance, he stands to gain $50 billion in extra Tesla shares if he boosts the company’s market value by 80%, doubles vehicle sales, triples operating earnings, or achieves any other two out of twelve operational objectives.

Currently ranked as the wealthiest person globally with a net worth of $493 billion, as reported by Forbes, Musk emphasizes that his focus is not solely on financial gains but on increasing his stake in Tesla to nearly 30% to bolster his control over the company. He highlights the importance of this control in light of Tesla’s envisioned “robot army,” referring to the Optimus humanoid robots that he believes only he should oversee.

While many investors, such as Baron Capital Management, view Musk as vital to Tesla’s success, critics like Calpers and Norway’s sovereign wealth fund express concerns about the excessive nature of the compensation package. The Norway fund, in particular, questions the independence of the board responsible for the package design, noting the inclusion of Musk’s brother and raising parallels to past criticisms of a previous Musk pay plan by a Delaware court.