Tesla Offers Musk $1 Trillion Package

Austin-based Tesla has drawn up a compensation package for CEO Elon Musk that would be worth up to $1 trillion if the electric vehicle maker hits a set of aggressive targets over the next decade, according to a filing published Friday.

The package, which could make Musk the world’s first trillionaire, is meant to incentivize the world’s richest man to prioritize his energies on Tesla—something shareholders have suggested he has neglected while working with the White House.

The company’s aggressive targets include reaching a market cap of $8.5 trillion in 10 years—eight times its current value—growing vehicle deliveries by about 10 times, and producing 1 million humanoid robots.

Shareholders must approve the package in a November vote.

Texas Republicans Sue for Closed Primaries

The Republican Party of Texas (RPT) has sued the state to end open primaries, arguing that allowing Democrats to vote in the Republican primary is a violation of GOP voters’ First Amendment right of association.

The current rules, in place for decades, allow citizens to vote in either Republican or Democratic primaries, but not in both primaries during the same election cycle.

“The First Amendment entitles political parties to determine who they associate with to select their nominees for public office,” the RPT argues in the suit, which follows a 2024 by-law change that only allows registered Republicans to vote in Republican primaries.

The lawsuit was filed with a U.S. District Court in North Texas and suggests that crossover voting allows Democrats to sway GOP primary elections.  

Tiny Homes Coming to Fast-Growing Town

Two-story tiny homes are now for sale in North Texas as homebuilder Lennar launches its “Dream Collection” in Princeton, the fastest-growing city in the U.S.

Each unit measures 661 square feet and includes one bedroom, two bathrooms, a loft, and a combined kitchen-living area, with prices starting in mid-$100,000s

The homes target first-time home buyers in an area where the housing supply is limited and space for new development is tight. Residents will have access to a community pool, a playground, and a community center.

➤ Statewide: Tropical Storm Lorena brought cloudy skies Friday, along with thunderstorms that disrupted some high school football games, and slightly cooler forecasts through the weekend. (More)

➤ Statewide: Gov. Greg Abbott issued a directive Thursday to enforce English language proficiency for all commercial drivers in an effort to improve highway safety. (See Details)

➤ Lubbock: Texas-based restaurant chain Abuelo’s declared bankruptcy this week. The chain peaked at 40 locations before experiencing a downturn, caused in large part by the COVID-19 pandemic. (More)

➤ Fort Worth: Cat City Grill has closed after 15 years in operation, with the steakhouse citing tight national beef supplies that have pressured multiple Texas restaurants into shuttering. (See Details)

➤ Statewide: The National Republican Senate Committee is calling on Rep. Wesley Hunt (R-Tex.) to stop stirring speculation he will run for U.S. Senate. The committee also endorsed incumbent Sen. John Cornyn for next year’s closely-watched primary. (More)

➤ San Antonio: MacArthur High School teacher Timothy Kitterman died this week after suffering a stroke in his first-period class. Ketterman was the school’s Teacher of the Year in 2019. (See Details)

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➤ Astros pitcher Spencer Arrighetti will likely miss the rest of the regular season as he deals with elbow inflammation. He might be ready to return for the playoffs. (More)

➤ No. 10 Texas A&M volleyball beat No. 21 Utah in straight sets on Thursday, logging 50 kills—shots the other team can’t return—over the course of the match. (More)

➤ UTSA football just became the first Division I team to partner with a Mexican company, Jumex, for a sponsorship deal. (More)

➤ Yesterday’s Results: NFL | MLB | NCAAF | Soccer | WNBA | U.S. Open

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➤ A Texas lottery player won $2 million in Wednesday’s Powerball drawing, barely missing the Powerball number as the jackpot rose to $1.8 billion Friday. (More)

➤ Houston billionaire and U.S. ambassador to Italy Tilman Fertitta is selling his 252-foot-long motor yacht, Boardwalk, for roughly $192 million. He’s awaiting delivery of a new 384-foot yacht.⁠ (See Photo)

➤ A home in the Texas desert of Terlingua has been listed for $2.1 million, with its biggest draw being a Boeing 727 aircraft built into it. (See Photos)

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When should stores start marketing Halloween merchandise?

1. July
2. August
3. September
4. October
5. Never

Yesterday’s Results:

Do you believe Lee Harvey Oswald acted alone in killing President Kennedy?

1. No: 55%
2. Yes: 23%
3. Not sure: 22%

What Texas city hall was designed by the architect who created the Louvre Pyramid?

Show me the answer