Business
Tesla proposes $1tn award for Elon Musk if he hits ambitious targets
Tesla boss Elon Musk will receive a pay package worth over $1tn (£740bn) if he hits a list of ambitious targets over the next decade, the board of the electric car firm has proposed.
To get the package, Musk, who is already the world’s richest person, would need to boost Tesla’s value eightfold, sell a million artificial intelligence robots, sell another 12 million Tesla cars, and hit several other moonshot goals.
Musk would not earn a salary or bonus but would instead be gradually awarded shares which would be worth $1tn if he achieves all the targets.
The company’s board urged investors to vote in favour of the package.
“Growth that may seem impossible today can be unlocked with new ideas, better technology and greater innovation,” Tesla chair Robyn Denholm said.
“Simply put, retaining and incentivising Elon is fundamental to Tesla achieving these goals and becoming the most valuable company in history.”
She added that the share award would “drive peak performance from our visionary leader”.
It comes after Musk was awarded $29bn in shares last month after his original $50bn award was struck down by a US court for being “unfair to shareholders”.
Under the latest plan, Musk would be awarded shares in 12 tranches, tied to 12 market milestones. The first milestone is for Tesla’s market value to double to $2tn.
The final market value milestone is $8.5tn – more than double the value of chip giant Nvidia, the world’s most valuable company.
He must also hit an operational milestone alongside each market milestone, which include the robot and vehicle targets, and a goal to increase one of Tesla’s earnings figures 24-fold.
According to Tesla’s latest financial report, sales are falling at their fastest rate in a decade, an issue which some experts have put down to Musk’s “toxic” reputation.
Dan Coatsworth, investment analyst at AJ Bell, said the suggested pay award “beggars belief”.
“Is one person worth that much?” he asked.
Mr Coatsworth added that Musk “presides over a company that has lost its edge, is being overtaken by rivals, and whose brand has been tarnished by Musk’s actions outside of Tesla.”
He continued: “Surely Musk should be fighting for his job, not Tesla’s board fighting to keep him?”
The board’s unprecedented pay proposal comes just months after it was forced to deny reports that it was looking to replace Musk.
According to a report in the Wall Street Journal in May, which Tesla said was “absolutely false”, the board hired headhunters to replace Musk because he was too focused on his work with US President Donald Trump to tackle Tesla’s sinking share price.
The Wall Street Journal told the BBC at the time it stood by its reporting.
Mr Coatsworth said: “One minute Tesla’s board is wondering if Elon Musk is a liability to the company given his outspoken views and political distractions, the next they’re effectively saying ‘pick a number, any number’ to lock him in for as long as possible.”
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Gold is sold at a discount in Dubai due to Middle East conflict disrupting flights. Traders offer up to $30 per ounce less than London prices.
Dubai Gold Selling Cheaper As Iran War Grounds Flights
Gold is being sold at a discount in Dubai as the widening conflict in the Middle East disrupts flights and hampers the movement of bullion from one of the world’s key trading hubs.
According to a Bloomberg report, traders in Dubai are offering discounts of up to $30 per ounce compared to the global benchmark price in London. The unusual price cut comes as shipments remain stranded due to flight disruptions triggered by the escalating conflict involving Iran and Israel.
Dubai is a key global centre for refining and exporting gold to markets across Asia, including India. However, partial airspace restrictions and heightened security risks have slowed the movement of bullion out of the region.
Why Gold Is Being Sold Cheaper
Gold is typically transported in the cargo holds of passenger aircraft. With several flights from the UAE restricted amid regional tensions, traders are struggling to move bullion to international markets.
At the same time, insurance and freight costs have surged, making shipments more expensive and uncertain. Many buyers have therefore stepped back from placing new orders, unwilling to bear high logistics costs without assurance of timely delivery.
To avoid paying prolonged storage and financing costs while shipments remain stuck, some traders are offering gold at discounted prices.
Although transporting bullion by road to airports in neighbouring countries such as Saudi Arabia or Oman is theoretically possible, logistics firms are reluctant due to the risks and complications of moving high-value cargo across land borders during a conflict.
What It Means For India
India, one of the largest buyers of gold shipped from Dubai, could face short-term supply disruptions if the situation continues.
Renisha Chainani, head of research at Augmont Enterprises Ltd., said several cargo shipments have already been delayed, creating temporary tightness in the availability of physical bullion in India.
However, industry experts as reported by Bloomberg say the immediate impact may remain limited as domestic inventories are currently comfortable after heavy imports earlier this year.
Chirag Sheth, principal consultant for South Asia at Metals Focus, said Bloomberg that India has ample stocks for now, but warned that prolonged disruptions could eventually affect supply if the conflict continues for several months.
Meanwhile, global gold prices have surged this year amid geopolitical uncertainty, with spot gold recently trading above $5,000 per ounce.
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March 08, 2026, 10:03 IST
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Some seven in 10 British adults without a full driving licence say learning to drive is currently unaffordable, according to a survey.
The figure is even higher among younger people, with 76% of 18 to 29-year-olds without a licence saying driving lessons are financially out of reach, the poll for car insurer Prima found.
Overall, 38% said the cost of driving lessons was the biggest deterrent to learning to drive.
Some 32% were put off by the price of buying a car and 15% said the cost of car insurance was the main barrier to learning to drive.
Almost half (45%) said they would consider learning to drive if it became significantly cheaper.
Nick Ielpo, UK country manager at Prima, said: “For a growing number of people, driving is no longer a symbol of freedom – it’s a financial stretch too far.
“Between lessons, buying a car and insuring it, the upfront and ongoing costs are pricing many people out before they even start.”
Find Out Now surveyed 1,134 adults who do not hold a full driving licence between January 21 and 23.
Go Digit General Insurance on Saturday said it has received a demand notice of about Rs 170 crore for short payment of goods and services tax (GST) for nearly five years. The company has received an order copy from the Office of the Commissioner of GST & Central Excise, Chennai South Commissionerate on March 6, confirming GST demand of Rs 154.80 crore levying penalty of Rs 15.48 crore and Interest u/s 50 of CGST Act, 2017 for the period July 2017 to March 2022, the insurer said in a regulatory filing. The company is in the process of evaluating the legal advice on the implications and would file an appeal, it said.
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