Tesla’s board has unveiled a proposed $1 trillion compensation plan for Chief Executive Elon Musk, tying his future rewards to the company’s ambitious expansion in value.

The package, described as unprecedented in scale, would require Tesla’s market valuation to rise nearly eightfold to about $7.5 trillion over the next decade. If achieved in full, it would significantly increase Musk’s influence, raising his current voting power beyond his existing 13% stake.

Tesla faces mounting challenges, including slowing demand for EVs, intensifying competition from Chinese manufacturers, and pressure to deliver on its artificial intelligence and robotics ambitions.

The scale of the package is expected to draw scrutiny from investors and regulators, amid questions about whether Tesla’s future growth justifies such a commitment.