"The package, which will be voted on by company shareholders at an annual meeting on Nov. 6, will give Musk up to $1 trillion over 10 years if he meets ambitious targets, such as expanding Tesla's robotaxi operations and boosting the company's market valuation from about $1 trillion to more than $8 trillion. All the compensation would be in the form of Tesla shares, reports the New York Times."
"Musk pushed the board to arrange a new compensation package for him, reports Yahoo! Finance, saying that he would focus his time and energy on AI and robotics if he didn't have roughly 25% voting control at Tesla. "The new agreement underscores Musk's iron grip on the automaker, despite the myriad demands on his time," writes Dana Hull in Bloomberg. Hull points out that in addition to Tesla, Musk oversees four other companies: SpaceX, xAI, Neuralink, and the Boring Co."
Tesla proposed a compensation package that could give Elon Musk up to $1 trillion in Tesla shares over ten years if ambitious growth and operational targets are achieved. Targets include expanding robotaxi operations and increasing market valuation from about $1 trillion to more than $8 trillion. The package would grant over 423 million additional shares and raise Musk's ownership to roughly 25%. The board frames the package as necessary to retain and incentivize Musk for achieving company goals and becoming the most valuable company ever. Musk pushed the board for the package and continues to oversee multiple other companies. Critics warn the package rewards leadership at investors' expense.
Read at Entrepreneur
Unable to calculate read time
Collection
[
|
...
]