Tesla’s board unveiled a compensation package for the chief executive that could be worth $900 billion if he meets ambitious targets.
Tesla’s board on Friday proposed a pay package that could make its chief executive, Elon Musk, the world’s first trillionaire as long as he meets a series of very ambitious corporate goals.
Mr. Musk, already the world’s richest person, would have to increase Tesla’s stock market value eightfold over the next decade to collect the full value of the package, according to a securities filing.
All the compensation would be in the form of Tesla shares. The package, which must be approved by the company’s shareholders, is expected to be put to a vote at an annual meeting on Nov. 6.
Subscribe to The Times to read as many articles as you like.
