Lates News
The Tesla board proposed a new compensation plan on Friday, under which Elon Musk would receive rewards worth about $1 trillion if he achieves a series of challenging goals over the next ten years. According to this plan, Musk will not receive any salary or bonuses, and his compensation will be in the form of stock options that will vest periodically. Unlocking conditions include a significant increase in Tesla's market value, a significant increase in profitability, the sale of millions of cars, and other key milestones. Board chairman Robyn Denholm stated in a letter to investors, "Retaining and motivating Musk to make Tesla the most valuable company in history is crucial. This compensation plan aims to combine extraordinary long-term shareholder value with incentives to drive our visionary leader to achieve the best results." The board emphasized that Musk's incentives are highly aligned with investor interests. If Tesla's growth stagnates, he will receive nothing. However, such a large compensation package is likely to reignite intense debates about the income level of the world's richest person.
Latest