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Tesla has proposed a new 10-year compensation plan for CEO Elon Musk that could be worth as much as $1 trillion even as the EV maker’s car business stumbles and it sets its sights on humanoid robotics and AI.
The company has tied the compensation to a number of benchmarks, one of which involves increasing Tesla’s overall valuation from around $1 trillion to more than $8 trillion. The plan would grant Musk more than 423 million additional shares in the company, boosting his level of control to around 25%. Musk has previously threatened to leave Tesla if he didn’t receive more voting power.
The proposal will be voted on by shareholders at Tesla’s annual meeting, which is scheduled for later this year. The details of the plan come just one month after the company announced a $29 billion compensation package meant to make up for a plan that was struck down by a judge in Delaware.
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