Tesla offered Elon Musk a historic trillion-dollar compensation package

Elon Musk could become the world’s first trillionaire if he fulfills the terms of a new compensation package offered to him by Tesla.

This is according to a company report filed with the US Securities and Exchange Commission (SEC), the Guardian reports.

Under the new plan, Tesla’s value is expected to grow from just over $1 trillion today to $8.5 trillion over 10 years.

If Musk achieves these targets, his stake in the company will increase from nearly 16% to over 25%, and his net worth will exceed $2 trillion.

Why do they want to pay Musk this money?

Musk’s previous $56 billion compensation package from 2018 was overturned by a Delaware court due to improper negotiations and a lack of independence among board members, TechCrunch writes.

The Washington Post notes that one of the main points is to keep Musk at Tesla. In other words, such an agreement is necessary to “tie” Musk to Tesla and ensure that he does not leave to start another business.

Tesla explained that if Elon achieves all his goals, his leadership will make Tesla the most valuable company in history.

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