"Musk can potentially earn 12% of Tesla's total stocks in 12 separate packages over a decade, according to a filling with the US Securities and Exchanges. How wealthy is Elon Musk? Musk is already the world's wealthiest person, as per Forbes' real-time Billionaire tracker, with a net-worth of $437.8 billion. That's ahead of Oracle's Larry Ellison, Meta's Mark Zuckerberg and Amazon's Jeff Bezos."
"The pay structure, titled "A Super Ambitious Incentive Package for a Pioneering, Ambitious and Unique CEO," was approved by the board on Friday and will seek shareholder approval in November. Analysts say the package is meant to keep the controversial billionaire from leaving Tesla and incentivize him to turn the company into an AI and robotics powerhouse. The package immediately gives Musk 96 million shares of restricted stock worth over $31 billion which cannot be sold for five years."
The Tesla board approved a multi-part pay package that could grant Elon Musk up to 12% of Tesla's stock across 12 tranches over ten years. The package immediately awards 96 million restricted shares, valued at over $31 billion, which cannot be sold for five years and will seek shareholder approval in November. Musk currently holds about 13% of Tesla with another 6.7% tied up in legal dispute; approval could raise his control to at least 25% if he remains for seven more years. The plan aims to retain Musk and drive Tesla toward AI and robotics ambitions.
Read at www.dw.com
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