Tesla unveiled on Friday a proposed compensation package for Elon Musk that could top $1 trillion if the controversial CEO delivers on his vision for stratospheric growth from new technologies.

The plan potentially provides Musk -- already the world's wealthiest person -- with up to 12 percent of additional total company shares, according to a filing with the US Securities and Exchange Commission.

To reach the full award, Tesla must reach a market capitalization of "at least $8.5 trillion by 2035," according to the filing, which announced a shareholder vote on the proposal in November.

Tesla's current market capitalization is just over $1 trillion, down somewhat from its peak following recent weak earnings. Analysts have attributed some of the sales woes to Musk's embrace of far-right politicians, which has sparked criticism.

But Musk has described Tesla's potential growth as nearly boundless, saying in July that if the company delivers on its vision for autonomous driving and artificial intelligence, "Tesla will be the most valuable company in the world by far."

Tesla shares rallied on the announcement of the plan, which directly links Musk's potential pay to........

© International Business Times