That is because it was crafted with an eye on keeping Musk in place, addressing concerns about the companys technical outlook and giving big company owners just enough reason to back the massive amount, investors and executive pay analysts said.
Earlier on Friday, the car makers board approved what it called a super-ambitious incentive package for a pioneering, ambitious and unique CEO that sets out lofty earnings and valuation targets - awarding Musk millions of shares over the next decade if he hits them.
It immediately gives Musk 96 million shares of restricted stock worth more than 31-billion as of intraday trading on Friday that vests over the next two years, as well as more control over the company. His total 2025 compensation package is worth north of 113-billion, executive compensation research firm Equilar has estimated.