"If Elon Musk can grow Tesla to over $8tn in value for stockholders over the next decade, he will be well on his way to becoming the world's first trillionaire. That is if stockholders approve the company's latest proposed compensation plan for the Superstar CEO, as a judge once called him, at this week's annual shareholders meeting in Austin, Texas, set for Thursday afternoon."
"Shareholders will also consider an alternate avenue to pay Musk the estimated $56bn the company says he is still due from a 2018 compensation plan. The company is also asking shareholders to vote against several other shareholder proposals, including one that would request a child labor audit. The previous pay package was invalidated by a Delaware court twice, and with an appeal now pending in front of the state's supreme court,"
"The first milestone, or tranche, requires reaching market capitalization of $2tn. The next nine each require an additional $500bn in growth until $8.5tn is reached by 2035. With each financial milestone also comes a product development requirement. To earn an additional 12% of the company's stocks over the next decade, Musk must also deliver 20m of Tesla's electric vehicles to buyers, 10m active full self-driving subscriptions, 1 million humanoid robots, and deploy 1m robo-taxis in commercial service."
Tesla's 2025 CEO Performance Award links Elon Musk's pay to aggressive market-cap and product milestones intended to expand the company toward an $8.5 trillion valuation by 2035. The plan splits goals into a dozen tranches, beginning with a $2 trillion market-cap target and adding nine $500 billion increments. Each financial milestone requires corresponding product outcomes, including delivery of 20 million electric vehicles, 10 million active full self-driving subscriptions, one million humanoid robots, and one million robo-taxis in commercial service. The proxy also addresses an alternate path to pay $56 billion from a 2018 plan and follows prior Delaware court invalidations.
Read at www.theguardian.com
Unable to calculate read time
Collection
[
|
...
]