Tesla proposes new pay plan for Musk that would expand his voting power

Tesla is asking investors to o.k. yet different outsized pay plan for CEO Elon Musk, according to a fiscal filing retired Friday.

The projected compensation program for Musk, already the world's wealthiest individual, consists of 12 tranches of shares to beryllium granted if Tesla hits definite milestones implicit the adjacent decade. It would besides springiness Musk accrued voting powerfulness implicit the EV shaper and aspiring robotics titan, which helium has publicly demanded since aboriginal 2024.

Tesla Chairwoman Robyn Denholm told CNBC's Andrew Ross Sorkin the program was designed to support the CEO "motivated and focused connected delivering for the company."

"If helium performs, if helium hits the ace ambitious milestones that are successful the program past helium gets equity — it's 1% for each fractional a trillion dollars of marketplace cap, positive operational milestones helium has to deed successful bid to bash that," Denholm said connected CNBC's "Squawk Box."

To get the archetypal grant successful the plan, Musk and Tesla would request to astir treble their existent marketplace headdress to scope $2 trillion, portion besides hitting a accumulation and deliveries milestone of a cumulative 20 cardinal vehicles.

Among the further targets for Musk to scope successful the 2025 CEO Performance Award: Adjusted EBITDA targets, rolling retired merchandise offerings "including 1 cardinal Robotaxis successful commercialized cognition and transportation of 1 cardinal AI Bots" and yet "he indispensable make astir $7.5 trillion successful worth for shareholders for him to person the afloat award."

Musk has remained politically embroiled, portion besides moving a postulation of companies, including aerospace and defence contractor SpaceX, drilling task The Boring Company, wellness tech institution Neuralink and the artificial quality venture, xAI, which has merged with his societal network, X.

Tesla one-day banal chart.