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.