“Tesla shareholders approve Elon Musk’s $1 trillion compensation packageTesla shareholders have backed a compensation package for Elon Musk that could be worth nearly $1 trillion. This would make him
the world’s first trillionaire if the company reaches a market capitalization of $8.5 trillion.
”, — write: unn.ua
DetailsIt is noted that Tesla shareholders approved a record compensation package for Elon Musk, which could reach almost $1 trillion and make him the world’s first trillionaire.
According to the company, 75% of shareholders voted “for” – despite the fact that 15% of the shares belong to Musk himself and were not taken into account in the vote. After the announcement of the results, those present erupted in applause, and Musk thanked the investors and the Tesla board of directors.
I am very grateful
Instead of a salary, he will receive a grant of 423.7 million shares, which will be distributed over 10 years, provided that business goals are achieved. If Tesla can raise its market capitalization to $8.5 trillion, the value of the package could reach a trillion.
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This would make Musk the highest-paid executive in history – potentially around $275 million a day. However, for this to happen, Tesla’s shares must rise by more than 460% from their current level.
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Despite falling sales and profits this year, Musk said the company’s future lies in autonomous cars, “robotaxis” and humanoid robots. At the same time, CNN experts note that most of his high-profile projects are still only in the development stage, so it is unknown whether Musk will receive the full bonus amount.
Musk himself insists that he needs additional shares not to get rich, but to maintain control over Tesla.
RecallIt was previously reported that Tesla shareholders are to decide the fate of Elon Musk by approving a compensation package of up to $878 billion. The board of directors considers him indispensable for transforming the company into an artificial intelligence technology giant.