On Tuesday, Elon Musk announced his plans to stay on as Tesla's CEO for the next decade. With that agreement, Musk also unveiled a new proposed compensation strategy, which Andrew Ross Sorkin in The New York Times calls possibly "the boldest pay plan in corporate history."
He would only be paid if Tesla reaches a set of aggressive milestones that will eventually grow the company's valuation to more than $650 billion. Tesla is currently valued at around $59 billion. While the plan would allow for Musk to earn billions more, if he doesn't reach the milestones, he would get nothing.
Musk is worth a reported $22 billion, but the official salary he currently receives from Tesla is far more modest: The CEO earns just around $37,000 per year. (Musk is also the CEO of SpaceX, which is privately held.)