Musk Made ‘Genuine’ Threats to Quit Tesla in $1 Trillion Pay Package Talks

A $1 trillion pay package isn’t simple to construct: A Tesla Inc. committee met with Elon Musk 10 times, delayed the company’s annual meeting and enlisted six outside advisers before finalizing the plan.

The negotiations were part of an extraordinary series of talks that led to the offer, which is designed to keep Musk at the electric vehicle maker for at least seven and a half years while he strives to meet a series of ambitious benchmarks in order to earn the full payout. During the meetings, Musk threatened to quit if he didn’t receive certain promises, while the committee wanted to end his foray into politics and secure his commitment to Tesla.