"If Musk delivers on the lofty milestones in the pay package laid out at Tesla's 6 November annual meeting, he could become the world's first trillionaire. To do so, he'll need to guide Tesla to $8.5tn in market capitalization, eight times what it's worth today. He will also be required to deploy millions of autonomous vehicles and humanoid robots and sustain the company's bottom line in the hundreds of billions over the next decade."
"Over the course of a decade, Musk will be required to deliver 20 million of Tesla's electric vehicles to buyers, sell 10 million active full self-driving subscriptions, develop and sell 1 million humanoid robots and deploy 1 million robotaxis in commercial service. Musk will also be required to bring the company to $400bn in actual earnings for four consecutive quarters."
"The major goals of the compensation plan, split into 12 tranches, lay out a path for Tesla to reach the enormous market capitalization. If he brings the company to that financial height, Musk will be able to cash-in on an additional 12% of the company's stocks. To do so, he has to be vested in the company for at least 7.5 years."
Shareholders met to vote on a Tesla compensation plan for Elon Musk valued near $1tn tied to aggressive growth milestones. The package consists of 12 tranches of stock options that unlock as Tesla reaches escalating targets, including an $8.5tn market capitalization and 25% eventual ownership for Musk. Over a decade Musk must deliver 20 million EVs, sell 10 million full self-driving subscriptions, develop and sell 1 million humanoid robots, deploy 1 million robotaxis, and achieve $400bn in earnings for four consecutive quarters. Vesting requires at least 7.5 years and development of a long-term succession plan.
Read at www.theguardian.com
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