Tesla proposes $1tn award for Musk if he hits targets

CEO Elon Musk has reportedly been offered a massive incentive to grow Tesla's market value to $1 trillion

The eccentric billionaire has until March 28, 2028, to hit the target, and if he does so, he'll be rewarded with a massive payout.

According to the company's filing with the Securities and Exchange Commission, if Musk hits the target, he'll receive stock options worth approximately $1.05 trillion.

The new reward scheme is in line with Musk's recent compensation package, which includes massive stock awards tied to growing Tesla's market capitalization.

What's next?

With this new goal in mind, Musk is expected to continue focusing on growing Tesla's business and expanding its product offerings.

The reward plan could help motivate Musk to tackle the environmental challenges of continuing to expand its operations sustainably.