Tesla Boss, Elon Musk, who is already the world’s richest person, could become the first trillionaire in the world after the Tesla board unveiled a massive new salary pay package for its CEO to keep his focus on the future of the EV maker.

The salary package would grant him additional shares of Tesla stock if the company can grow far beyond its current value, with a market capitalisation far greater than any company has ever approached. Musk’s previous pay package, which added significantly to his massive wealth, also laid out ambitious growth plans for Tesla that once appeared to be a reach – but which Tesla proved able to reach easily.

The new pay package could grant Musk 423.7 million additional shares of Tesla stock. Those shares would be worth $143.5 billion at today’s stock value.

The board for the electric carmaker Tesla has put forward a pay package for CEO Elon Musk that could make him the world’s first trillionaire, but only if he meets a series of high-performance standards over the next 10 years.

The salary package proposal for Musk was public as part of the company’s regulatory filings.

Musk’s ambitious compensation plan hinges on achieving significant corporate goals, potentially making him the world’s first trillionaire. The plan, valued at nearly a trillion dollars, requires shareholder approval and involves increasing Tesla’s market value eightfold over the next decade.

Elon Musk could achieve something no one has done before, becoming the world’s first trillionaire. However, this is on his ability to fulfil a series of corporate goals outlined in a new compensation plan proposed by Tesla’s board.

The report said that valued at nearly a trillion dollars, the package is tied to these commitments, and it must be approved by the company’s shareholders.

To earn the full amount, Elon Musk must meet certain targets, which includes increasing Tesla’s stock market value eightfold over the next decade, from its current value of around $1.1 trillion to an astonishing $8.5 trillion.

All of his compensation would be in the form of Tesla shares. This is by far the most lucrative pay package ever proposed for a corporate executive. The plan comes with a series of difficult conditions: Musk will have to stay at Tesla for at least ten years to earn the full value.

Please listen to this article here-

Musk would get those values only if the value of Tesla stock increases significantly in the coming years. The company stock would need to reach an overall value of $8.5 trillion for Musk to get all the shares, significantly above the current market capitalisation of $1.1 trillion