Musk’s Path to Trillionaire Rides on Dopamine, ‘Mars-Shot’ Goals

The road to the world’s first trillion-dollar fortune is laid with dopamine hits.

That’s how Antonio Gracias, a former Tesla Inc. director, once described a pay package offered in 2012 to Elon Musk. Its success encouraged the company to entice its chief executive officer with a “moonshot” award in 2018. Within years, Musk earned it all. Tesla quickly became the world’s most valuable carmaker — and he its richest person.

This time around, the company says, it’s offering a “Mars-shot.”

Tesla’s board on Friday unveiled a pay package that’s ripped from the same playbook: A massive bundle ...