Shareholders at Tesla's annual general meeting in Austin approved a 10-year "mega peformance equity award" that could catapult Elon Musk to trillionaire status.

The car-maker is lobbying fiercely for the pay package, which is being voted on ahead of its AGM on Thursday.

Shareholder votes on a pay package worth $1tn to be tallied 6 November – but it contains milestones beyond growing the company’s market cap

Musk could be the world’s first trillionaire.

Musk will have to meet a series of milestones over the next decade to earn it.