Tesla may offer Musk up to $1 trillion in compensation

A month after the firm’s board authorized a stock award for Elon Musk worth over $29 billion, Tesla announced a new incentive package for Musk on Friday that could reach nearly $1 trillion if the company accomplishes certain lofty goals over the next ten years.

The company outlined the plan in an SEC filing, which could see the billionaire gain an additional 12% stake in the electric car maker, in line with a demand Musk made last year.

In the filing, the company notes that it “currently does not have a long-term CEO performance award to retain and incentivize Elon to focus his energies on Tesla” and that “it was time to change that.”

To receive his full reward, Musk will have to meet the ambitious goal of increasing Tesla’s market capitalization from around $1 trillion today to $8.5 trillion over a ten-year period.