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Tesla co-founder Elon Musk will accomplish a “staggering” $50 billion if he meets several key achievement milestones over the abutting 10 years, according to a filing appear by the U.S Securities and Exchange Commission (SEC) on Wednesday.

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The plan, aboriginal appear in January, was this anniversary (March 21) accustomed by Tesla shareholder. It will see Musk accept a “performance-based banal advantage award.” There are 12 “market assets milestones” and 16 “operational milestones.”

Currently, the amalgamation is assignment $2.6 billion—but for every anniversary Musk hits he will be handed added banal account 1 percent of the firm. The certificate states that he cannot leave the roles of CEO, controlling administrator and arch artefact administrator throughout this period. He currently owns about 20% of Tesla stock.

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The close said the aim is to accomplish Tesla “one of the best admired companies in the world” by growing its complete bazaar cap—the all-embracing bulk of the aggregation on the banal market—to a whopping $650 billion from the accepted appraisal of about $52 billion. 

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To accommodated the aboriginal milestone, officials said that Tesla’s accepted bazaar assets charge access to $100 billion. Then, for anniversary of the actual 11 milestones, its bazaar cap charge abide to access in added $50 billion increments.

As the cap rises, so will Musk’s earnings. 

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Critics agenda that Tesla, which produces cutting-edge electric vehicles, has not angry an anniversary net accumulation in its 15 years of operation. Best shareholders backed the advantage plan, but not anybody agreed that it was the appropriate move.

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Glass Lewis, an complete analysis and advising firm, branded the bulk of the plan “staggering,” according to CNBC. The aggregation said: “The complete costs to shareholders of this admission if accustomed and becoming are substantial, but the bulk of allotment basic acclimated is alike added eye-watering on a about basis.”

Musk’s banking approaching at Tesla is abandoned angry to his performance. The filing states he gets “no salary, no banknote bonuses, and no disinterestedness that vests artlessly by the access of time.” It adds his “only advantage will be a 100% at-risk achievement award.”

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Elon Musk, CEO and CTO of SpaceX, CEO and artefact artist of Tesla Motors, and administrator of SolarCity. Scott Olson/Getty Images

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Tesla said: “The new achievement accolade has been advised so that Tesla and Elon abide deeply accumbent with actor interests as they now assassinate on Master Plan, Part Deux—continuing to body what is the world’s aboriginal vertically-integrated acceptable activity company, from bearing to accumulator to consumption.

“The abutting appearance of Tesla’s development involves a cardinal of agitative affairs that will added beforehand the appearance of acceptable energy.

“These accommodate accretion solar activity bearing through Solar Roof and added solar articles and seamlessly amalgam them with array storage, architecture out the company’s agent artefact band to awning all above forms of earthbound transport, continuing to beforehand free technology to actualize a fully-self active future.”

Musk is additionally accepted for his assignment on Space X, a rocket aggregation that is now ablution missiles into apogee to abundant fanfare. While he receives no accepted bacon from Tesla, he is absurd to be beggared for cash. According to Forbes, Space X is admired at added than $20 billion and Musk abandoned has a claimed net account of $20.2 billion.

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This commodity was aboriginal accounting by Newsweek

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