Tesla offers Elon Musk a trillion-dollar pay package

Elon Musk could become the world's first trillionaire if he hits targets set by Tesla, under a scheme disclosed by the electric car company he runs and in which he is the largest shareholder. Tesla outlined the terms of the incentive package, unprecedented in corporate history, in a section of its latest stock market update that began: "Yes, you read that correctly." Musk, the company said, will have to increase the value of the company from just over 1tn today to 8.5tn over 10 years. If he presides over growth on that scale, the 54-year-old would receive new shares that would push his stake in the company from nearly 16% to well beyond 25%, increasing the fortunes of the world's richest man to more than 2tn. Estimates of Musk's current net worth vary but a live ranking of the world's wealthiest people on the planet, compiled by Forbes, estimates the South African-born tycoon's fortune at 430.9bn.