Tesla is asking its investors to approve a proposed compensation package for CEO Elon Musk that could be worth almost $1 trillion and is based on the electric vehicle maker hitting certain ambitious milestones over the next decade. The company, which is also leaning heavily into robotics and AI, said in a regulatory filing on Friday that the package includes a dozen share tranches that will be given to Musk if it hits certain targets over the 10-year period. To achieve the initial amount in the compensation plan, Tesla would need to hit a market cap of $2 trillion, double its current valuation.
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