American aerospace manufacturer SpaceX has approved a fresh compensation package for its founder, Elon Musk.
The plan, disclosed in a confidential US Securities and Exchange Commission (SEC) filing, highlights one of the most ambitious pay structures in corporate history.
What Will Elon Musk Get in SpaceX’s New Pay Package?
According to Reuters, the board approved the package in January 2026, granting Musk up to 200 million super-voting restricted shares. The tranche unlocks only when SpaceX reaches a $7.5 trillion market capitalization and a permanent settlement of 1 million residents on Mars.
A separate tranche awards up to 60.4 million restricted shares. This is contingent on the company meeting separate valuation targets and operating space-based data centers with at least 100 terawatts of compute capacity.
“Both awards come with super-voting Class B restricted stock, which carries 10 votes to every 1 Class A share, and vest in tranches as the company’s value rises,” the report read.
Should Musk fall short of the targets, he receives no shares. These carry no fixed timeline other than his continued employment at the company. Musk’s base salary remains at $54,080 per year, unchanged since 2019.
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Interestingly, SpaceX’s IPO filing also indicates that Elon Musk will retain control over his leadership position.
“The filing states that Musk ‘can only be removed from our board or these positions by the vote of Class B holders’ – super-voting shares with ten votes apiece that he will control after the IPO, making his removal effectively a self-vote. If he ‘retains a significant portion of his holdings of Class B common stock for an extended period of time, he could continue to control the election and removal of a majority of our board.’” Reuters reported.
BeInCrypto reported that SpaceX is advancing toward a June IPO after confidentially filing with the SEC. The company is aiming for a valuation of up to $1.75 trillion. Its pre-IPO valuation on Jupiter’s Prestocks platform is currently around $1.68 trillion.
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