Posted on 09/05/2025 2:35:38 PM PDT by E. Pluribus Unum
Tesla boss Elon Musk will receive a pay package worth over $1tn (£740bn) if he hits a list of ambitious targets over the next decade, the board of the electric car firm has proposed.
To get the package, Musk, who is already the world's richest person, would need to boost Tesla's value eightfold, sell a million artificial intelligence robots, sell another 12 million Tesla cars, and hit several other moonshot goals.
Musk would not earn a salary or bonus but would instead be gradually awarded shares which would be worth $1tn if he achieves all the targets.
The company's board urged investors to vote in favour of the package.
"Growth that may seem impossible today can be unlocked with new ideas, better technology and greater innovation," Tesla chair Robyn Denholm said.
"Simply put, retaining and incentivising Elon is fundamental to Tesla achieving these goals and becoming the most valuable company in history."
She added that the share award would "drive peak performance from our visionary leader".
It comes after Musk was awarded $29bn in shares last month after his original $50bn award was struck down by a US court for being "unfair to shareholders".
'Beggars belief'
Under the latest plan, Musk would be awarded shares in 12 tranches, tied to 12 market milestones. The first milestone is for Tesla's market value to double to $2tn.
The final market value milestone is $8.5tn - more than double the value of chip giant Nvidia, the world's most valuable company.
He must also hit an operational milestone alongside each market milestone, which include the robot and vehicle targets, and a goal to increase one of Tesla's earnings figures 24-fold.
(Excerpt) Read more at bbc.com ...
Didn’t they just screw him over on the last performance bonus promise?
Tesla better be serious about their wager, because Elon would take such a challenge dead seriously.
If or when he met the target goals, Elon would expect prompt payment of EVERY DOLLAR!!
I think he recently settled a lawsuit with Tesla over a similar promise of payout, should certain performance milestones be met. Going for that distant, material goal is a major incentive for someone like Elon to become motivated and focused.
Its the way we keep score in the game.
Prediction: Enter the courts to decide stockholders, board and officers must obey the whim of the court.
CAN I POINT OUT THAT THERE WOULD BE NO COMPANY TO EVEN HAVE SHAREHOLDERS IF MUSK DIDN’T CREATE IT TO BEGIN WITH???
Won’t this one be decided by a Texas court?
I have read that Tesla has been reincorporated in Texas, so the neo-Bolshevik judges in Delaware won't have a say on this.
At the bank I worked for there there always three tiers of bonuses. The first tier was reasonable and it related to hitting my department targets. The second meant that I hit my targets and the overall bank targets were hit.
But to make the big money, something like 80% of the banks departments had to exceed their targets by 10%.
We hit that once. It doubled my income. That was nice.
Most of the time it just paid out well.
Good for Elon. I hope he hits it. It will piss off the commies.
Tell that to Martin Eberhard and Marc Tarpenning, the REAL founders of Tesla.
I will buy a robot if it can clean the house and file my taxes.
I already have my wife doing those tasks. I will buy a robot if it can immediately fix all my gadgets that fail or give me grief. Maybe it can fix itself if it goes wonky. My Apple watch had a glitch last week after I did some concrete work. I had to bang it on a table to make the control knob work again. Maybe a robot can bang my gadgets on a table to fix them. Just as long as it doesn't bang my head on a table to make me work.
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