SpaceX board agrees to pay Elon Musk ONLY IF he colonises Mars

SpaceX has set a hefty and lucrative pay package for Elon Musk but with certain prerequisites that currently feel like nothing more than turning science fiction into reality.

The billionaire’s space technology company is set to go public in early June this summer and the company has filed a confidential registration statement with the Securities and Exchange Commission ahead of a planned stock market listing.

The handsome salary was approved by the board in January and was kept under wraps. According to the documents reviewed by Reuters, SpaceX’s board wants to achieve some extraordinary targets, including:

• Establishing a permanent colony on Mars with one million inhabitants
• Building space-based data centers capable of delivering 100 terawatts of computing power per year
• Increasing the company’s valuation to $7.5 trillion

The goals are not time bound as long as Musk works with the company and if he achieves all of the targets, he will receive 200 million super-voting restricted shares in the company.

According to Forbes, Musk already has a net worth of around $776 billion. If the targets are not achieved, the CEO receives nothing except his nominal salary of $54,080 a year that he has been getting from the company since 2019.

Analysts have expressed concerns that this development puts two of Musk’s companies; Tesla and SpaceX, effectively in competition for his time and focus.