But shareholders must first approve the new pay plan.
Transcript:
CAROLINE WOODS: Elon Musk is already the world’s richest person – but he could get a whole lot richer.
Tesla is asking shareholders to approve a massive new pay package for its CEO, worth up to $975 billion at maximum payout. That’s nearly a trillion dollars!
The deal includes 12 tranches of stock Musk can unlock if Tesla hits big milestones over the next decade. That would also boost his voting power at the company.
To get the first award, Tesla’s market cap would need to almost double to $2 trillion. The final goal? An eye-popping $8.5 trillion valuation. That means if Musk wins, shareholders do too.
Operational milestones are just as ambitious: 20 million cars delivered, 10 million active FSD subscriptions, a million robots, a million robotaxis, plus hefty profit benchmarks.
Tesla said in its Friday filing that shareholders will also vote November 6th on whether the company should invest in Musk’s newest venture, xAI.
Subscribe |
Earn. Live. Invest. |
TheStreet Pro |
#elonmusk #tesla #spacex
source
