EV maker Rivian said it was giving its CEO a revised pay package worth as much as $4.6 billion over the next decade modeled after Tesla's Elon Musk pay plan.

The world’s richest person could have his net worth nearly double under the proposed payment plan.

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.