The SpaceX board will grant CEO and founder Elon Musk 1 billion restricted shares of Class B common stock on one condition: he has to hit 15 market capitalization milestones up to $7.5 trillion and establish a “permanent human colony on Mars with at least 1 million inhabitants.

Elon Musk's SpaceX (SPCX.O) turned to the bond market for the first time, capitalizing on ​a post-IPO momentum that has vaulted its cash reserves past $100 billion as the ‌rockets-to-AI group ramps up...