马斯克，有望成万亿美元巨富

Core Viewpoint - Tesla has proposed an ambitious new compensation plan for CEO Elon Musk, which could potentially make him a trillionaire if fully realized, contingent on meeting significant market capitalization milestones [1][2]. Group 1: Compensation Plan Details - The new performance-based compensation plan could grant Musk up to 423.7 million shares of Tesla stock, valued at approximately $143.5 billion based on recent closing prices [1][5]. - The plan requires Tesla's market capitalization to reach a series of thresholds, starting at $2 trillion and culminating at $8.5 trillion, which is significantly higher than previous targets [4][5]. - The 2025 plan mirrors the 2018 plan but is considerably more challenging, requiring a market cap increase from $590 billion to $8.5 trillion, a difference of one order of magnitude [2]. Group 2: Performance Metrics - The compensation is structured in 12 tranches, with each tranche representing 1% of the adjusted share count, and requires achieving both market capitalization and operational milestones [3][5]. - The operational milestones include adjusted EBITDA targets starting at $50 billion and reaching up to $400 billion, alongside specific product delivery goals such as delivering 20 million vehicles and achieving 10 million active FSD subscriptions [6][8]. Group 3: Shareholder Impact - If approved, the plan would lead to the issuance of an additional 423.7 million shares, increasing the total share count from 3.2 billion to 3.6 billion [1][5]. - The plan is expected to enhance Musk's control over Tesla, potentially increasing his ownership stake from 16% to 32% if the 2025 plan is fully realized and the ongoing legal issues are resolved in Tesla's favor [9][10].