India, Nov. 7 -- Tesla shareholders handed Elon Musk a major salary boost on Thursday, approving a record-breaking compensation package, marking the largest corporate payout in history. More than 75% of shares voted in favor of the proposal, which could make Musk the first trillionaire ever. He is already the richest person in the world.

The new plan, introduced by Tesla's board last September, grants Musk over 423 million additional shares, boosting his ownership stake from 15% to roughly 25%. But the payout doesn't come without conditions.

To unlock the full compensation, Musk must steer Tesla to unprecedented heights. The benchmarks include pushing the company's market value from $1.5 trillion to $8.5 trillion within a decade, launch...