Tesla’s board proposed a new 10-year compensation package to make Elon Musk the world’s first trillionaire, aiming to secure his focus on the company.
The plan requires Musk to grow Tesla’s market cap from ~$1.1 trillion to $8.5 trillion, with milestones like deploying a million robotaxis.
A previous compensation package was struck down by a judge, but success this time would give Musk nearly 29% control of Tesla.
The ambitious plan comes as Tesla faces challenges, including a major Cybertruck recall and competition from Chinese automakers.
Tesla’s board has proposed a new 10-year compensation package designed to keep CEO Elon Musk focused on the company by making him the world’s first trillionaire. The plan, which requires shareholder approval, is a direct attempt to secure his undivided attention for the next decade.
A golden leash: With Musk juggling SpaceX, xAI, and political roles, the board is using the massive payout as an incentive to keep him from pursuing other interests. A securities filing confirmed the plan’s primary goal is to retain Musk and the talent his leadership attracts.
An $8.5 trillion mountain: To get the full payout, Musk must grow Tesla’s market cap from ~$1.1 trillion to an eye-watering $8.5 trillion—a valuation that would eclipse the current market caps of Nvidia and Microsoft put together. His pay is also tied to seemingly sci-fi milestones, like deploying a million robotaxis and a million humanoid robots.
This isn’t the board’s first attempt at a massive payday. A Delaware judge previously struck down Musk’s 2018 compensation package, calling it unfair to shareholders. Success this time would swell his stake to nearly 29%, giving him a level of control few public company CEOs ever hold. The board is betting that the only thing that can keep Elon Musk focused on Tesla is a prize so big he can’t ignore it, even if it means giving him unprecedented control over the company’s future.
The wider view: While Musk eyes a trillion-dollar payday, the broader U.S. economy added just 22,000 jobs in August. The ambitious plan also comes as Tesla faces its own headwinds, having recalled virtually all Cybertrucks earlier this year and facing fierce competition from Chinese automakers.
Tesla’s board proposed a new 10-year compensation package to make Elon Musk the world’s first trillionaire, aiming to secure his focus on the company.
The plan requires Musk to grow Tesla’s market cap from ~$1.1 trillion to $8.5 trillion, with milestones like deploying a million robotaxis.
A previous compensation package was struck down by a judge, but success this time would give Musk nearly 29% control of Tesla.
The ambitious plan comes as Tesla faces challenges, including a major Cybertruck recall and competition from Chinese automakers.
Tesla’s board has proposed a new 10-year compensation package designed to keep CEO Elon Musk focused on the company by making him the world’s first trillionaire. The plan, which requires shareholder approval, is a direct attempt to secure his undivided attention for the next decade.
A golden leash: With Musk juggling SpaceX, xAI, and political roles, the board is using the massive payout as an incentive to keep him from pursuing other interests. A securities filing confirmed the plan’s primary goal is to retain Musk and the talent his leadership attracts.
An $8.5 trillion mountain: To get the full payout, Musk must grow Tesla’s market cap from ~$1.1 trillion to an eye-watering $8.5 trillion—a valuation that would eclipse the current market caps of Nvidia and Microsoft put together. His pay is also tied to seemingly sci-fi milestones, like deploying a million robotaxis and a million humanoid robots.
This isn’t the board’s first attempt at a massive payday. A Delaware judge previously struck down Musk’s 2018 compensation package, calling it unfair to shareholders. Success this time would swell his stake to nearly 29%, giving him a level of control few public company CEOs ever hold. The board is betting that the only thing that can keep Elon Musk focused on Tesla is a prize so big he can’t ignore it, even if it means giving him unprecedented control over the company’s future.
The wider view: While Musk eyes a trillion-dollar payday, the broader U.S. economy added just 22,000 jobs in August. The ambitious plan also comes as Tesla faces its own headwinds, having recalled virtually all Cybertrucks earlier this year and facing fierce competition from Chinese automakers.
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