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Updated - May 21, 2026 at 06:19 AM.

The plan underscores SpaceX’s aggressive vision spanning space exploration, AI infrastructure, and interplanetary expansion, while reinforcing Musk’s dominant voting control in the company. | Photo Credit: Dado Ruvic

SpaceX Chief Executive Officer Elon Musk can boost his overall compensation if the company succeeds in building colonies on Mars and data centers in space, according to a US Securities and Exchange Commission filing on Wednesday.

In January, the board granted Musk 1 billion performance-based restricted Class B shares split into 15 equal tranches. To get the full award, the company will need to have achieved a market capitalization of $7.5 trillion and established a permanent human colony on Mars with at least 1 million inhabitants.

Musk owns 85.1% of the voting power ahead of a record initial public offering planned for next month. That reflects a highly concentrated governance structure and his ironclad control over SpaceX and its broader AI, satellite and launch strategy.

Musk boosted his stake in SpaceX last year, buying $1.4 billion worth of stock from current and former employees.

In November, he was also granted 302.1 million performance-based restricted Class B shares that vest over 12 equal tranches. 

Those will be awarded if the company’s market capitalization exceeds $6.565 trillion and SpaceX completes non-Earth-based data centers capable of delivering 100 terawatts of compute per year.

More stories like this are available on bloomberg.com

Published on May 21, 2026

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