Tesla proposes new pay package for Elon Musk worth up to $1T

Tesla has proposed a new 10-year compensation plan for CEO Elon Musk that could be worth up to $1 trillion. The plan is tied to ambitious benchmarks, including increasing Tesla’s overall valuation from about $1 trillion to over $8 trillion. If approved, Musk would receive more than 423 million additional shares, increasing his control of the company to approximately 25%. This move comes amid challenges in Tesla’s core car business and Musk’s prior threats to leave if he did not gain more voting power. The proposal will be subject to a shareholder vote at Tesla’s upcoming annual meeting. Tesla framed the compensation plan as critical to advancing its broader vision of ushering in an era of “sustainable abundance” through innovative and affordable technologies at scale. The company emphasized Musk’s “singular vision” as essential to navigating what it calls a “critical inflection point” in society, referencing its recently published “Master Plan Part IV.” However, Musk himself has given limited acknowledgment to the plan, noting it