Errol Musk, Elon Musk’s father, disclosed that Tesla has offered Elon a staggering $1 trillion pay package to ensure he remains at the helm of the company.
The world’s richest person has consistently asked for a bigger stake in the company to gain more control, even as a legal battle over his 2018 pay package – then valued at a mere $56 billion – continues. The newly proposed award is roughly 18 times the size of the contested plan and is close to the company’s current market valuation. The proposal highlights the board’s confidence in Musk’s ability to steer the company in a new direction while reigniting growth, even as it loses ground to Chinese rivals in key markets amid softening EV demand.
The interview touched on Tesla’s advanced self-driving capabilities, with Errol noting their impressive safety alerts and software superiority. Additionally, they discussed Elon’s broader tech ventures, including SpaceX’s $17 billion satellite spectrum acquisition, which could revolutionize global phone connectivity by bypassing traditional networks.