The world’s richest man could become the first trillionaire if Elon Musk manages to achieve a set of highly ambitious performance targets for Tesla over the next decade, according to a proposed pay package unveiled by the company.
In a regulatory filing on Friday, Tesla said Musk could receive shares worth up to 12% of the company through 12 separate tranches, tied to milestones such as sharp increases in vehicle production, profitability, and market value. If approved by shareholders, the deal could make Musk the first trillion-dollar executive — though the payout is in stock, not cash, and hinges on extreme benchmarks.
To unlock the first tranche, Musk must help Tesla reach a $2 trillion valuation, double its current worth, while meeting other targets. To secure the full package, Tesla’s value would need to soar to $8.5 trillion, surpassing Nvidia’s market capitalization.
Other requirements include ramping annual vehicle sales to 20 million, plus scaling up Tesla’s robot and robotaxi ventures to one million units each — areas where the company still lags behind competitors.
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