"The Tesla Board of Directors announced yesterday that it had established a new pay package for CEO Elon Musk, as it believes it is "critical" to secure his long-term commitment to the position. However, the Board made it clear about Musk's political involvement in its proxy filing, which announced the new pay package, and it seems the company is addressing it directly."
"The proxy announced the massive pay package, which could give Musk $1 trillion if he achieves various goals that would help Tesla grow as an automaker, energy provider, and in the Robotics and AI sectors. There are also some details about the Board's decision, which we went over yesterday, as it felt that Musk was the right person to continue to lead Tesla for the foreseeable future. It appears that there were four primary reasons behind the decision to retain Musk with this substantial pay package."
"Another was to let Musk develop the newest Master Plan, which was released last week. Additionally, there needs to be a "meaningful framework for long-term succession planning led by the Board with Musk's active participation." But there was one driving factor that was considered critical to Tesla: "Receive assurances that Musk's involvement with the political sphere would wind down in a timely manner.""
The Tesla Board of Directors established a new pay package intended to secure Elon Musk's long-term commitment to the company. The package could award Musk up to $1 trillion if Tesla reaches valuation and operational goals across automotive, energy, robotics, and AI sectors. Achieving all tranches would raise Musk's ownership to roughly 27 percent. The Board emphasized permitting Musk to develop a new Master Plan and creating a meaningful framework for long-term succession planning with Musk's active participation. The Board made securing assurances that Musk's involvement in the political sphere would wind down in a timely manner a critical condition.
Read at TESLARATI
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