Musk's new compensation plan revealed: $1 trillion "bet"

PANews reported on September 5th that Tesla's board of directors proposed a new compensation plan on Friday that would reward Musk with approximately $1 trillion if he achieves a series of challenging goals over the next decade. Under the plan, Musk will not receive any salary or bonuses. Instead, his compensation will vest in installments in the form of stock, unlocked upon achieving significant growth in Tesla's market capitalization, significant increases in profitability, and key milestones such as selling millions of vehicles. In a letter to investors, board chair Robyn Denholm stated, "Retaining and motivating Elon Musk is critical to Tesla's success in becoming the most valuable company in history. This compensation plan is designed to combine extraordinary long-term shareholder value with incentives to drive peak performance from our visionary leader." The board emphasized that Musk's incentives are highly aligned with investor interests. If Tesla's growth stagnates, he will receive nothing. However, such a massive compensation package is likely to reignite the heated debate over the income level of the world's richest man.