The plan, which the board hopes the shareholders will approve, means that Elon Musk can receive a number of new shares if the company reaches certain financial targets during the coming ten-year period. It would also give him increased control over the company, something he has demanded since last year.
According to, among other things, Financial Times, the value of the new pay plan can be 1,000 billion dollars.
In order for Elon Musk to reach the first part of the bonus, Tesla needs to almost double its market value and reach 20 million produced and delivered vehicles, writes CNBC.
Elon Musk's salary structure has been very debated. The Dutch pension giant ABP previously chose to protest by selling off its entire holding in Tesla because Musk would receive 600 billion kronor, something that was later stopped in court in Delaware, USA.
