On November 6, 2025, Tesla shareholders approved a compensation plan for CEO Elon Musk worth up to $1 trillion with over 75% support. This unprecedented incentive plan in corporate history aims to deeply bind Musk's personal wealth with Tesla's future over the next decade, embarking on a more ambitious strategic transformation era.

1. Core Content of the Compensation Plan

This compensation plan is essentially a ten-year performance-based agreement. Musk's income is entirely linked to Tesla's market value and operational performance. The plan outlines clear phased goals that Musk must achieve one by one to receive Tesla's newly issued shares as rewards.

Market Value Goals

● Tesla's market value needs to start from the current approximately $1.5 trillion and ultimately reach $8.5 trillion.

● Specifically, when the market value reaches $2 trillion, Musk will receive the first reward.

● Thereafter, for every increase of $500 billion in market value (up to $6.5 trillion), he will receive nine additional rewards.

● If the market value continues to grow in $1 trillion increments up to $8.5 trillion, he will receive the final two rewards.

Operational Goals

The plan also sets extremely high requirements for Tesla's actual business operations:

● Financial Performance: Annual adjusted profits must ultimately reach $400 billion.

● Product Delivery: Cumulative delivery of 20 million vehicles and sales of 1 million "Optimus" humanoid robots.

● Technology Implementation: Achieve commercial operation of 1 million fully autonomous robot taxis and develop 10 million active fully autonomous (FSD) subscription users.

If all goals are achieved, Musk will receive approximately 423.7 million shares of Tesla stock, increasing his ownership from about 13% to 25%, with the value of this equity portion estimated at $1 trillion.

2. Strategic Transformation and Potential Challenges

This compensation plan is seen as key to ensuring Musk's long-term tenure and leadership in driving Tesla's strategic transformation. The Tesla board has explicitly stated that the plan aims to motivate Musk to push the company from an electric vehicle manufacturer to a comprehensive technology giant integrating artificial intelligence and robotics.

Focus on AI and Robotics

● At the shareholder meeting, Musk himself outlined the company's future vision, stating that Tesla not only aims to open a new chapter but also to "start a whole new book." The core strategic focus will revolve around the development and commercialization of autonomous taxis (Cybercab) and the humanoid robot "Optimus."

Risks and Controversies

Despite the plan receiving overwhelming approval, its formulation and implementation still face challenges:

● Historical Lessons: The compensation plan set for Musk in 2018, although achieving performance targets ahead of schedule, has yet to be approved by U.S. courts, with a value exceeding $50 billion. This trillion-dollar plan may similarly face judicial review risks.

● Institutional Opposition: The world's largest sovereign wealth fund, the Norwegian Sovereign Wealth Fund, has publicly expressed opposition to the compensation plan, reflecting concerns from some institutional investors about the company's governance structure.

3. Impact on the Cryptocurrency Market

The approval of Musk's compensation plan not only concerns Tesla's future but has also sparked widespread attention in the cryptocurrency market, particularly regarding Dogecoin (DOGE), which is closely related to Musk.

Musk and Dogecoin's Correlation Effect

● Musk, due to his long-term support and influence over Dogecoin, is often referred to as the "Father of Dogecoin" by the community. Historical data shows that Musk's public statements have repeatedly triggered short-term dramatic fluctuations in DOGE prices. For instance, a Reuters report in April 2023 noted that Dogecoin surged after Musk changed the Twitter logo to the Dogecoin image.

Market Signal of the Compensation Plan

● The passage of this compensation plan sends a positive signal to the crypto market: Musk will continue to be a core leader at Tesla, focusing on driving cutting-edge technological innovations, including artificial intelligence. This expectation of long-term stable leadership enhances market confidence in the continued influence of related cryptocurrencies (such as Dogecoin).

4. Governance Insights for the Cryptocurrency Industry

Musk's "astronomical" compensation plan is fundamentally based on a super long-term, phased approach, strongly tied to clear performance indicators, deeply binding the interests of the core figure (Musk) with the long-term development of the company (Tesla). This model provides valuable insights for the currently immature governance mechanisms in the cryptocurrency industry.

Incentive Models to Reference

Cryptocurrency projects can refer to this framework to design more comprehensive incentive models:

● Long-term Lock-up: Project tokens can be locked for 8-10 years, with phased unlocking.

● Dual Goals: Each phase of unlocking must simultaneously meet the dual goals of market value growth and technology/ecosystem development.

● Smart Contract Execution: Utilize smart contracts to automatically execute unlocking conditions, ensuring transparency and no human intervention.

This "Musk-style" governance framework is expected to address current pain points in the cryptocurrency industry, such as project teams quickly cashing out after issuing tokens and slow technology implementation, promoting a true community of shared interests between project teams and community investors.

Tesla's market value ladder has been laid out from $1.5 trillion, with the goal of reaching the distant peak of $8.5 trillion. The overwhelming support from shareholders is not only a gamble on Musk personally but also a firm belief in the future vision formed by smart electric vehicles, artificial intelligence, and humanoid robots.

As Musk dances with robots after the approval of the compensation plan, Tesla's "new book" has already been opened, and the first line of its preface is filled with ambition and challenges.

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