A SpaceX-Tesla Merger Could Give Musk $1 Trillion Without Selling a Car

Original: 不用賣一輛車，只要 SpaceX 和 Tesla 合併，馬斯克就可以拿走 1 兆美元

Tesla's change-of-control clause raises concerns that Musk could bypass performance targets and receive a massive payout.

Tesla's 2025 performance compensation plan includes a change-of-control clause that has raised governance concerns. According to the article, a merger involving Tesla and SpaceX could allow operating milestones to be disregarded, with compensation determined only by market value. The clause could create a path for Musk to receive up to $1 trillion without meeting the original performance targets.

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