"Elon Musk was already leading the race to be the world's first trillionaire when Tesla's board proposed he get a pay package potentially worth $1 trillion. Under the plan, Musk would receive about 424 million shares or 12% of the company if he hits an array of ambitious goals. Achieving all of them - including supercharging Tesla's annual profits to $400 billion and increasing its market value roughly eight-fold to $8.5 trillion - would grant Musk shares worth more than $1 trillion."
"With a $378 billion fortune as of Thursday's close, Musk is the world's wealthiest person, per the Bloomberg Billionaires Index. His biggest single source of wealth is his estimated 13% stake in Tesla. However, his stakes in the private companies he leads also contribute, particularly his 42% stake in SpaceX and 33% stake in XAI Holdings, the parent company of X and xAI."
"Musk's net worth has exploded, rising from under $40 billion at the start of 2020 to $486 billion in December. According to Bloomberg, his net worth in May 2013 was just $5 billion, meaning it's grown roughly 75-fold in just over 12 years. A key driver has been Tesla's stock soaring from below $30 on a split-adjusted basis at the start of 2020 to nearly $340 today. That increase has lifted the company's market value from around $76 billion to more than $1 trillion."
Tesla's board proposed a pay package that would award Elon Musk about 424 million shares, roughly 12% of the company, if he meets ambitious targets. Achieving all targets — including boosting Tesla's annual profits to $400 billion and raising market value to about $8.5 trillion — would make the shares worth more than $1 trillion. Musk's net worth was about $378 billion, driven mainly by an estimated 13% stake in Tesla and sizable stakes in private firms: about 42% of SpaceX and 33% of XAI Holdings. Tesla's stock rose from under $30 in early 2020 to nearly $340, lifting market value above $1 trillion; SpaceX valuation climbed to about $350 billion and XAI could add value.
Read at Business Insider
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