"(Jeffrey Phelps/AP photo) If all goes according to plan, Tesla billionaire and former first buddy Elon Musk's wealth could soar like one of his SpaceX rocket ships. Tesla's board pitched a generous pay package Friday that would add a whopping $900 billion to Musk's net worth if he's able to increase the automaker's stock market value eightfold, The New York Times reported. The bold pay package would make Musk, who left President Donald Trump's administration in May, the world's first trillionaire."
"The deal comes with several caveats, according to the Times: Mr. Musk would have to remain at Tesla for at least seven and a half years to cash in any of the shares, and 10 years to earn the full amount. He would also have to meet various very ambitious operational milestones, including overseeing the commercial deployment of one million autonomous taxis, one million robots and a more than 24-fold increase in profit."
"Musk is currently worth over $435 billion, according to Forbes. While his time at the White House with Trump is done, Musk has been vocal against his former boss, at one point announcing his own political party a plan that quickly fizzled. He also notably posted opposition to Trump's Big Beautiful Bill on his X platform in June, calling it an abomination."
Tesla's board proposed a pay package that could add $900 billion to Elon Musk's net worth if Tesla's market value increases eightfold. The payout would be in Tesla shares and leave Musk with 29 percent ownership of the company. Vesting requires Musk to remain at Tesla at least seven and a half years to cash in any shares and 10 years to earn the full amount. The package ties payouts to ambitious operational milestones, including one million autonomous taxis, one million robots, and a more than 24-fold increase in profit. Musk is currently worth over $435 billion and has been politically vocal.
Read at www.mediaite.com
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