Elon Musk Will Stay On As Tesla's CEO But Will Only Get Paid If He Hits Milestones

On Tuesday, Tesla CEO Elon Musk announced that he will remain at the head of the company for ten years in an unusual situation that requires him to hit some lofty targets in order to get paid. According to a report by the New York Times, Musk had previously indicated that he might move on from Tesla following the introduction of the Model 3, an event that has now come and gone. However, according to Tesla’s latest announcement, Musk will stick around for another decade, but in order for him to get paid he will need to add 41 billion-dollars to Teslas current market cap of around 59 billion dollars. Without hitting those milestones, even by a single percentage point, Musk gets nothing.