Tesla Gives Musk New Long-Term Pay Deal Tied to Big Targets

Elon Musk has a huge new incentive to make Tesla a trillion dollar company within a decade. The electric car company released Tuesday the outline of a new compensation plan for it's CEO. The company said in a statement Musk will receive shares each time the company increases its market capitalization by $50 billion, beginning with the $100 billion mark and rising to $650 billion. Additionally, Tesla needs to achieve revenues of $20 billion annually or earnings of $1.5 billion. If Tesla's market cap grows to $650 billion in the next decade, Musk will receive stock worth $55.8 billion. Tesla is worth less than $60 billion today.