Tesla has unveiled a proposed pay package for CEO Elon Musk that could make him the world’s first trillionaire if the company hits extraordinary growth targets.
The plan would grant Musk 423.7 million additional Tesla shares, valued at $143.5 billion at current prices. However, he would receive them only if Tesla’s market capitalization soars to $8.5 trillion.
That is nearly eight times the company’s current value of $1.1 trillion and well above Nvidia’s present standing as the most valuable company.
Tesla has proposed a new 10-year compensation plan for CEO Elon Musk that could be worth as much as $1 trillion even as the EV maker's car business stumbles and it sets its sights on humanoid robotics and AI. https://t.co/L3rJGKIlug
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The proposal underscores Tesla’s bet on Musk’s leadership to drive long-term growth. It comes alongside a separate shareholder measure urging Tesla to take a stake in Musk’s artificial intelligence startup, xAI. That firm recently absorbed X, formerly Twitter, which Musk acquired in 2022.
Tesla shares ticked slightly higher in premarket trading following the announcement.
