My problem with all this is that Tesla depends too much on one person, Musk.

I shudder to think about what would happen to the stock valuation if he were somehow not able to perform his duties anymore.

That’s why it just feels precarious. I don’t know any other stock that has a bus number of 1.

Maybe Berkshire Hathaway?

Apart from that, the goals/milestones are so huge that the pay package doesn’t seem too crazy.

Berkshire is a money making machine with or without Buffett. Its market cap is 30% lower than Tesla, while it brings ~100B / year in net income - most of which is from very stable, boring businesses.

As Warren liked to say: "I try to invest in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will".

That's his portfolio now - he won't promise robots or AI, but he can guarantee solid profits for 10 years to come, regardless of his presence.

Berkshire has many talented managers and I believe is known for being fairly hands off. If anything Berkshire is undervalued compared to the industry averages for its component companies.