From Business Insider, September 5:
- Tesla has just unveiled a monster new pay package for CEO Elon Musk.
- The proposed compensation deal could be worth as much as $1 trillion.
- It features a set of ambitious milestones for Musk, including taking Tesla's market cap to $8.5 trillion by 2035.
Tesla has just unveiled a massive new potential pay package for Elon Musk.
The proposed compensation plan, which the EV giant outlined in an SEC filing on Friday, could net Musk as much as $1 trillion if he can hit a series of ambitious milestones that includes taking Tesla to a $8.5 trillion market cap by 2035.
In addition to adding an extra $7.5 trillion in market value — which would make Tesla twice as valuable as Nvidia — the proposed pay package is contingent on Tesla having delivered a cumulative total of 20 million cars and one million of its Optimus robots in the next decade.
Musk would also need to put 1 million robotaxis on the road, and boost the number of subscribers to Tesla's Full Self-Driving service by 10 million.
The Tesla CEO would have to grow the company's earnings before interest, taxes, depreciation, and amortization to $400 billion over the next 10 years, up from $16.6 billion last year....
....MUCH MORE
Talk about golden handcuffs. But is it enough to focus his notoriously wandering attention?
The stock is up 2% on the news, $345.40 last.
