Tesla CEO Elon Musk and Oracle co-founder Larry Ellison have recently engaged in an unofficial battle for the title of the wealthiest person on the planet, with each amassing a net worth of around $400 billion.
But following the news of Musk’s eye-popping compensation package proposal, he may soon run away with that title with little opposition.
In a filing to the U.S. Securities and Exchange Commission, Tesla outlined an extremely generous compensation package that would net Musk up to $1 trillion if he is able to increase the value of Tesla from $1 trillion to $8.5 trillion over the next 10 years. The move has turned heads, especially considering Tesla’s subpar performance in 2025.
Robyn Denholm, chair of Tesla’s board of directors, spoke to Bloomberg Technology regarding the company’s decision to stand behind Musk despite his performance.
“Having the Board’s responsibility is to look at who the CEO is for the next period of time, and we believe that Elon is the right CEO for Tesla over this transformative period of time. And our view is he’s a generational leader,” Denholm said.
“There aren’t any other people out there like Elon who can actually lead the company over this next decade or so,” added Denholm. “And so, once you decide who the leader should be, you need to put in place the compensation package to incent and motivate him to actually deliver against the ambitious goals.”
The electric vehicle manufacturer has reported a substantial decrease in car sales throughout many key automotive markets across the globe. The value of used Tesla vehicles has also seen a significant drop in the past year. And as the company shifts its focus to its expanding artificial intelligence technology, other EV manufacturers have quickly gained ground on Tesla in terms of innovation and sales.
While many experts point to a number of controversies surrounding Musk as the reason for the company’s struggles, Tesla’s board of directors sees no reason to change course.
“Clearly, from our perspective as a Board, we’re measuring him on results and measuring him on what he does as the CEO of Tesla,” said Denholm. “Our view is he’s delivered big time in the past, and we look forward to him doing that in the next era.”
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