SpaceX’s board approved a new long-term, performance-based equity plan for CEO Elon Musk.
Details from a confidential IPO filing reveal a $1.75 trillion target valuation.
The company is preparing for what could be the largest public offering in history.
The package grants Musk an additional 60 million shares.
This award triggers if the company’s market capitalization reaches $6.6 trillion.
The award vests in tranches for every $500 billion increase in valuation.
The plan requires SpaceX to build space-based data centers for AI developers.