Elon Musk just cleared the first of 12 levels that end in a $55 billion payday. Here's how his elaborate Tesla compensation plan works.

· In an updated SEC filing on Thursday, Tesla's board confirmed that CEO Elon Musk has officially met the requirements to unlock the first tier of a massive payday.
· According to the company's 2018 compensation agreement with Musk, hitting this milestone will unlock stock options that could net him over $700 million.
· That...