Core Viewpoint - Tesla has proposed an ambitious compensation plan for CEO Elon Musk, which could potentially make him a trillionaire if fully realized, contingent on achieving significant market capitalization milestones [1][2]. Compensation Plan Details - The new tiered compensation plan could grant Musk an additional 423.7 million shares of Tesla, valued at approximately $143.5 billion based on recent closing prices [2]. - To receive the full stock allocation, Tesla's market capitalization must reach a series of thresholds, starting at $8.5 trillion, which is eight times its current value [2][4]. - The plan is similar to the controversial 2018 compensation package but is significantly more challenging, requiring a leap from a $59 billion market cap to $8.5 trillion [4]. Shareholder Voting and Issuance - Tesla shareholders will vote on this proposal at the upcoming meeting on November 6, and if approved, the company will issue an additional 423.7 million shares on top of the existing 3.2 billion shares [3]. - The proposal also includes a vote on whether to invest in xAI, another company associated with Musk [3]. Performance Metrics - The 2025 compensation plan consists of 12 tranches, each representing 1% of Tesla's equity, with a total duration of 10 years [5]. - The minimum market capitalization target starts at $2 trillion, increasing by $500 billion for each subsequent tranche, culminating in a final target of $6.5 trillion [6]. - Each tranche's stock grant is contingent upon meeting both market capitalization and operational performance milestones [7]. Control and Ownership Implications - If the 2025 plan is fully realized, Musk's control over Tesla could increase to 32%, although it may ultimately settle around 25% after accounting for taxes and dilution [13]. - The plan is designed to enhance Musk's control over the company, which he views as critical in the face of potential threats from aggressive investors or acquisitions [10][14]. Historical Context - Tesla's previous compensation plans have faced legal challenges, with the 2018 plan currently under appeal after being rejected by a Delaware court [11]. - A temporary payment of approximately $30 billion in stock was granted to Musk last month, increasing his ownership from 13% to 16% [12].

北京时间周五晚间，特斯拉公布了即将在11月股东大会上接受投票的提案文件。令全球金融市场感到震惊的是，公司再次提出要给CEO马 斯克设立一份野心爆棚的薪酬方案。 根据测算，如果马斯克能够拿满这份薪酬包，光是特斯拉股票就足以使他成为身家突破万亿美元的银河巨富。这还没算他在SpaceX、xAI等 顶级科创公司里的权益。 总的来说，新的阶梯式薪酬方案将 最多授予马斯克额外4.237亿特斯拉股权 。按照昨日收盘价计算，这些股票价值为1435亿美元。但拿到 这些股票的大前提，是特斯拉市值必须达到一系列门槛。例如 要拿满所有股票，公司市值需要达到8.5万亿美元，大概是目前的8倍，也是 当下"全球股王"英伟达的两倍。 特斯拉股东们将在11月6日的股东大会上对这一方案进行投票。如方案通过，特斯拉将在现有32亿股基础上再发行4.23亿股。除了惹人关注 的薪酬包外，最新文件还要求特斯拉股东投票决定是否应该向xAI公司进行投资。 难度显著上升 2025年的方案与2018年那份惹上官司的薪酬激励如出一辙，但今天的这份方案难度显然高出不少——毕竟把一家公司从590亿美元市值拉 扯到6500亿美元，与进一步提升公司市值7万亿美元，连数量级 ...