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What happened
Tesla's board has proposed a pay package for CEO Elon Musk that could make him the world's first trillionaire, contingent on meeting ambitious performance targets over the next decade. The plan includes increasing Tesla's valuation to $8.6 trillion and delivering 20 million vehicles. Shareholders will vote on the proposal on November 6, amid ongoing legal scrutiny over Musk's previous compensation packages and his political affiliations.
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Key insights
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Musk's Potential Trillionaire Status: Musk could become the first trillionaire if he meets performance benchmarks.
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Shareholder Vote Scheduled: Tesla shareholders will vote on the compensation package on November 6.
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Legal Challenges Persist: Musk's previous compensation packages are under legal scrutiny.
Takeaways
The proposed pay package reflects both Tesla's ambitious goals and the complexities of executive compensation.