"Tesla wants to be the apple of Elon Musk's ever-wandering eye. Tesla Chair Robyn Denholm said the proposed compensation plan for Musk, which was unveiled Friday and is worth about $1 trillion, is designed to keep his "focus and attention" on the EV company. "To me, the plan is super ambitious, and that is what motivates Elon," she said during an interview with CNBC."
"Since becoming CEO of Tesla in 2008, Musk has taken on several other major projects and a few side quests. He founded Neuralink in 2016 and The Boring Company in 2017. In 2022, Musk acquired Twitter and renamed it X. One year later, he launched xAI. He is also still the CEO of SpaceX, which he founded in 2002. That's a lot of jobs to juggle all at once."
"The filing said Musk would earn the fortune if he completed certain milestones for the company, including bringing Tesla to at least $8.5 trillion market cap by 2035. Denholm acknowledged that the proposed payout may seem exorbitant but referred to the multibillion-dollar deal Tesla's board approved in 2018. "From our perspective, it's about shooting for the moon and coming up with the ambition - the vision - that we've put out with the master plan," Denholm said."
Tesla proposed a new compensation plan for CEO Elon Musk that could pay him up to $1 trillion if he meets specified company milestones. The plan ties payouts to ambitious targets, including achieving at least an $8.5 trillion market capitalization by 2035. Chair Robyn Denholm said the plan aims to secure Musk's focus and attention on Tesla and that its ambition aligns with the company's master plan. Denholm acknowledged the payout may seem exorbitant and compared it to Tesla's multibillion-dollar 2018 package. Musk's many external ventures and prior distractions contributed to the emphasis on retaining his attention.
Read at Business Insider
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