Tesla proposes new pay package for Elon Musk worth up to $1T

Tesla has proposed a new 10-year compensation plan for its CEO, Elon Musk, which could be worth up to $1 trillion. The plan comes as the company's car business faces challenges, and Tesla shifts its focus to humanoid robotics and AI. The proposed package would tie Musk's compensation entirely to Tesla's performance, with no salary or cash bonuses. Instead, Musk would receive options that vest based on meeting certain market capitalization and operational milestones. If all the milestones are met, Musk could potentially earn over $1 trillion in stock options, making it one of the largest compensation packages in corporate history. The move is seen as an attempt by Tesla to retain Musk's leadership and continue his vision for the company, despite the current challenges facing its core automotive business. The plan will require shareholder approval and reflects Tesla's ambition to become a leader in emerging technologies beyond electric vehicles.