Tesla (TSLA) shareholders overwhelmingly approved a new pay package for CEO Elon Musk that could be worth up to $1 trillion. The compensation comes with some fairly steep hurdles that the electric vehicle maker will need to surpass in order for Musk to collect, which could have big implications for the Magnificent 7 stock.
While Musk's 2018 pay package is currently in litigation, Tesla's board of directors in early September outlined a new 2025 CEO pay package. The board also specified specific targets that must be hit for Musk to earn the full compensation of 423.7 million shares of Tesla's common stock.
