Tesla has offered CEO Elon Musk an unprecedented pay package of around $1 trillion in what is set to be the largest corporate payout in history.
The package, which would grant Musk an additional 423.7 million shares in Tesla stock, will be awarded if the company increases its market valuation from $1 trillion to $8.5 trillion over the next decade, overtaking Nvidia to become the world’s most valuable company.
Also included in the small print is a stipulation that Musk’s activities in “the political sphere would wind down in a timely manner” after the billionaire’s on-off relationship with President Donald Trump and far-right politics have seen Tesla’s share price tank, the company’s market share in Europe fall through the floor, and Musk get voted the most unpopular man in America.
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