00:00SpaceX's board of directors has reportedly approved an out-of-this-world pay bump for Elon Musk if the company
00:06succeeds in establishing a human colony on Mars, because the world's richest man needs more money.
00:12Now, the package, which got approved in January, would grant Musk a whopping 200 million shares of stock.
00:19Okay, Kendall Roy.
00:20Musk only becomes supreme stock later, however, as long as the colony is permanent, has at least 1 million residents,
00:27and SpaceX has hit a market valuation of $7.5 trillion.
00:31Take that all in for a second, and forget the $7.5 trillion.
00:34The real benchmark here is a million residents permanently living on Mars.
00:38The long-shot incentives were detailed in SpaceX paperwork as part of the company's confidential filing with the SEC to
00:45go public.
00:45Musk believes that a colony on Mars is essential to humanity's long-term survival, and he's been beating that drum
00:51for a while.
00:52He's even been photographed wearing an Occupy Mars t-shirt on more than one occasion.
00:57The SpaceX website acknowledges that a self-sufficient colony would, quote,
01:02require upwards of 1 million people and millions of tons of cargo to be delivered to the red planet.
01:08These literal pie-in-the-sky goals are not locked into any kind of specific time frame here,
01:14meaning Musk is eligible to receive the reward at any time, as long as he remains CEO of SpaceX.
