Elon Musk Offered a Nearly $1-Trillion Pay Package From Tesla Shareholders

Elon Musk is already the world's richest man ... and he's going to become a whole lot richer, because Tesla's shareholders just approved his new pay package -- which could make him a trillionaire.

The pay package was approved at Tesla's annual shareholder meeting in Austin, Texas on Thursday, and get this -- there's no salary involved with the package, according to CNN.

Elon doesn't take a salary at the company -- he's awarded stock -- and he'll be paid in the form of up to 423.7 million additional Tesla shares, which he'll get over the course of the next 10 years if he makes certain targets -- the value of the shares is reportedly somewhere in the ballpark of $1 trillion.

Granted, he's gotta hit some very specific marks to earn the shares, which will be distributed in 12 even tranches, and Tesla will have to reach an $8.5 trillion market cap if he wants the full amount.

If Tesla's going to hit the market cap, though, shares will have to rise a cool 466% from today’s stock price, which is a pretty lofty goal.

Elon reportedly floated the possibility of packing up his things and leaving Tesla behind if he didn't get the pay package, although it looks like he'll be sticking around.