Munster and other Tesla bulls believe he’s right that AI, autonomous vehicles, robotaxis and humanoid robots are the future that will lift Tesla to the $8.5 billion target price, and adjusted operating profits of $400 billion that would be 20 times greater than Tesla’s previous record profit.

The proposal highlights the board's confidence in Musk to steer Tesla in a new direction while reigniting growth as it loses ground to Chinese rivals.

The world's richest man could become its first trillionaire if Elon Musk hits a series of extremely aggressive targets for his electric car company over the next decade, according to a proposed pay package released by the company.