Billionaire Elon Musk could soon become a trillionaire.
A new pay package being proposed by the Tesla board could make boost its CEO’s net worth – already an impressive $400-billion – to over $1-trillion.
There is a caveat, though: the payday depend on Tesla meeting some ambitious corporate goals, including a 25-fold increase in its net profit, and an eight-fold increase in its stock market value.
The proposed package would leave Musk with 29% of Tesla’s shares, and a potential $1,1-trillion payday.
Musk would have to stay at the helm of Tesla for at least seven-and-a-half years in order to cash in any of his shares, and 10 years to collect on them all. He would also have oversee the development of 1-million autonomous taxis and 1-million robots.
The proposal will be put to the vote on 6 November.