On September 5, the Tesla board proposed a new compensation plan on Friday, under which Musk will receive approximately $1 trillion in compensation if he achieves a series of highly challenging goals over the next decade. According to the plan, Musk will not receive any salary or bonuses, and his compensation will be paid in stock installments, with unlocking conditions including a significant rise in Tesla's market capitalization, as well as substantial improvements in profitability and the sale of millions of vehicles, among other key milestones. Board Chair Robyn Denholm stated in a letter to investors: "Retaining and motivating Musk is crucial for Tesla to become the most valuable company in history. This compensation plan is designed to combine extraordinary long-term shareholder value with incentives, thereby driving our visionary leader to achieve optimal performance." The board emphasized that the incentives for Musk are highly aligned with investor interests. If Tesla stagnates, he will gain nothing. However, such a large compensation scale is likely to reignite fierce debates about the income levels of the world's richest person. (Jin10)
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Elon Musk's latest compensation plan revealed, a $1 trillion "bet."
On September 5, the Tesla board proposed a new compensation plan on Friday, under which Musk will receive approximately $1 trillion in compensation if he achieves a series of highly challenging goals over the next decade. According to the plan, Musk will not receive any salary or bonuses, and his compensation will be paid in stock installments, with unlocking conditions including a significant rise in Tesla's market capitalization, as well as substantial improvements in profitability and the sale of millions of vehicles, among other key milestones. Board Chair Robyn Denholm stated in a letter to investors: "Retaining and motivating Musk is crucial for Tesla to become the most valuable company in history. This compensation plan is designed to combine extraordinary long-term shareholder value with incentives, thereby driving our visionary leader to achieve optimal performance." The board emphasized that the incentives for Musk are highly aligned with investor interests. If Tesla stagnates, he will gain nothing. However, such a large compensation scale is likely to reignite fierce debates about the income levels of the world's richest person. (Jin10)