Tesla has offered Elon Musk a new pay and incentives plan that would give him more control, more shares and up to nearly $1 trillion in compensation.

Tesla’s board unveiled a compensation package for the chief executive that could be worth $900 billion if he meets ambitious targets.

Tesla will also ask shareholders to vote on whether the automaker should invest in Musk's artificial intelligence company, xAI.

Musk would receive no salary or cash bonus, with the compensation tied to stock awards if Tesla meets both market cap, operational targets.

CEO will have to increase the value of his electric car company from just over $1tn to $8.5tn over 10 years.

Musk had a $56 billion pay package thrown out twice in 2024, so Tesla’s board has proposed a deal worth $1 trillion.

Tesla has offered Elon Musk a new pay and incentives plan that would give him more control, more shares and up to nearly $1 trillion in compensation.

The car firm boss's enormous pay package depends on him hitting sky-high targets.

The compensation would be delivered in shares and tied to performance milestones set by the Tesla board over 10 years.

The billionaire, already the world's richest man, will receive the equivalent of £740billion if the electric car giant hits certain targets over the next decade.