"Tesla has unveiled a new pay package for Elon Musk that could turn the world's richest man into the first trillionaire. The EV giant announced on Friday that it would submit the enormous new compensation plan, which requires the Tesla CEO to boost the company's valuation to $8.5 trillion, for shareholder approval in November. The proposed pay package is unprecedented in both its size and the scale at which Tesla will have to grow for Musk to achieve it."
"Musk's 2018 compensation package, which was struck down by a Delaware judge last year, was already unprecedented in the history of executive pay - and that $46.8 billion payout is dwarfed by the Tesla CEO's new compensation plan. In its SEC filing, Tesla's board said it was "irrelevant" to benchmark Musk's pay against the pay packages enjoyed by other CEOs, as no other chief executive faced such challenging and complex performance targets."
Tesla proposed a compensation package for Elon Musk that could make him the first trillionaire if he meets extremely ambitious targets. The plan requires boosting Tesla's valuation to $8.5 trillion and includes operational milestones such as turning Tesla into the most valuable company ever and selling one million robots, with shareholder approval sought in November. The package is unprecedented in size and scale, dwarfing Musk's struck-down 2018 $46.8 billion award. Tesla's board described Musk's situation as unique and said a special committee based the new pay on a pay-for-performance framework with ambitious goals.
Read at Business Insider
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