特斯拉股东（>75%）批准了一项补偿方案，授予埃隆·马斯克在十年内最高价值1万亿美元的股票。要全部兑现，他必须把特斯拉市值从目前的1.4万亿美元提升到8.5万亿美元（约6.07倍）。在投票前马斯克威胁若不得到激励可能离开；特斯拉年报在正文中直接提到马斯克25次，强调公司对这位首席执行官的高度依赖。

科技和其他知识密集行业普遍依赖少数顶尖人才——Alphabet、Amazon、Meta、Oracle、Palantir等均将关键工程或创始人列为对运营“重大”的要素。经验证据凸显风险：一项2020年研究发现，首席执行官突发住院会显著削弱公司盈利与投资，尤其在人力资本密集行业；超级明星研究者过早去世会使合作者的高影响论文产出长期减少5–8%。市场反应可以很快：2014年Bill Gross离开PIMCO时，母公司Allianz股价立刻下跌6%，次月PIMCO出现480亿美元净流出。

对冲途径有限：人寿/关键人物保险通常赔付最高为雇员税前薪酬的10倍或可归因净利润的5倍，但不覆盖辞职——因此1万亿美元级别的方案实质上无法投保。加利福尼亚等地禁止竞业禁止协议，英国拟将上限设为三个月；公司能做的主要是提高薪酬。如今看似离谱的天价或许将成明日常态。

Tesla shareholders (>75%) approved a compensation package granting Elon Musk up to $1trn of shares over ten years. To receive it all he must lift Tesla's market capitalisation from $1.4tn to $8.5tn (≈6.07×). Ahead of the vote Musk warned he might leave without the inducement; Tesla’s annual report names him 25 times, underscoring the company's high dependence on its chief executive.

Firms across tech and knowledge industries — Alphabet, Amazon, Meta, Oracle, Palantir and others — similarly flag key engineers or founders as material to operations. Empirical evidence highlights the risk: a 2020 study found CEOs’ sudden hospitalisations cut profitability and investment significantly, especially in human‑capital‑intensive firms; the premature death of a superstar reduced collaborators’ high‑impact papers by 5–8%. Market reactions can be immediate: when Bill Gross left PIMCO in 2014, Allianz shares fell 6% and PIMCO saw $48bn net outflows the following month.

Hedging is limited: life/key‑person policies typically pay up to 10× gross salary or up to 5× the net profit attributable, and they don’t cover resignations — making a $1trn package effectively uninsurable. Non‑compete bans (e.g., California) and proposed UK caps of three months constrain legal retention; firms’ remaining lever is higher pay. What looks obscene today may become table stakes tomorrow.