Tesla shares up 3.6% after offering $1B success fee to Musk

​​​​​​​By Gokhan Ergocun

ISTANBUL (AA) - Tesla’s share price increased 3.6% on Friday after it offered to investors a nearly $1 trillion pay plan for CEO Elon Musk.

The plans said Musk would get 12 tranches of shares if Tesla reaches specific benchmarks over the course of the following 10 years.

Shares reached $350.8 as of closing Friday.

The market cap of the firm was $1.3 trillion.

The share price more than doubled in the last year, from $210.5.

For the success fee of around $1 trillion, the firm expects to reach a market cap of $7 - $8 trillion.