Tesla approved a $1 trillion award for Elon Musk.

The decision was approved with more than 75 percent of votes cast in favor at a recent shareholders' meeting.

However, Musk can receive the award only if the company's capitalization increases by another $7.5 trillion over the next ten years.

The payment will be made in stages and will depend on the results achieved. Currently, Tesla's market value is approximately $1.5 trillion.