India, Nov. 7 -- Elon Musk, the world's richest person, could become the first trillionaire on the planet soon, as Tesla shareholders approved a pay package in this regard on Thursday, November 6. The 54-year-old currently has a net worth of $491.4 billion, according to Forbes.

The pay package, as per Tesla, received support from over 75 per cent of shares, who voted in its favor during the annual shareholder meeting, CNN reported. It did not include the 15 per cent of the company, which is already owned by Musk.

"I super appreciate it," Musk said, while he was cheered by the crowd at the meeting.

Serving as the CEO of Tesla, Musk is not taking any salary. The recently approved pay package will serve as a stock grant providing him with...