Tesla CEO Elon Musk, the richest person on the planet, could become the world's first trillionaire if the company's board of directors approves a massive new compensation package for its CEO.
Points of attention
- Elon Musk, the richest person on the planet, has the opportunity to become the world's first trillionaire if Tesla's board of directors approves a new compensation package.
- The proposed package includes Musk receiving additional Tesla shares if the company's market value reaches $8.5 trillion, potentially making his total share value close to $1 trillion.
Musk will become a trillionaire: what is known
The proposed package provides that Musk will receive an additional 423.7 million Tesla shares if the company's market value increases significantly in the coming years.
Tesla's total stock value is currently $1.1 trillion. If the company's value reaches $8.5 trillion, the 423.7 million shares Musk could receive as part of this package would be worth almost $1 trillion.
Musk currently owns 410 million shares of Tesla.
According to the Bloomberg Billionaires Index, Musk's total wealth is estimated at $386 billion.
