[Market news: The Tesla board proposes a new compensation plan for CEO Musk] The Tesla board proposed a new compensation plan on Friday, under which Musk would receive approximately $1 trillion in compensation if he meets 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 over time, with unlocking conditions that include significant rise in Tesla's market capitalization, as well as substantial increases in profitability and key milestones such as selling millions of cars. Board chair Robyn Denholm stated in a letter to investors: "Retaining and incentivizing Musk is crucial for Tesla to become the most valuable company in history. This compensation plan aims to align 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's growth stagnates, he will receive nothing. However, such a massive compensation scale is likely to reignite fierce debates about the income level of the world's richest person.
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Market news: The Tesla board has proposed a new compensation plan for CEO Musk.
[Market news: The Tesla board proposes a new compensation plan for CEO Musk] The Tesla board proposed a new compensation plan on Friday, under which Musk would receive approximately $1 trillion in compensation if he meets 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 over time, with unlocking conditions that include significant rise in Tesla's market capitalization, as well as substantial increases in profitability and key milestones such as selling millions of cars. Board chair Robyn Denholm stated in a letter to investors: "Retaining and incentivizing Musk is crucial for Tesla to become the most valuable company in history. This compensation plan aims to align 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's growth stagnates, he will receive nothing. However, such a massive compensation scale is likely to reignite fierce debates about the income level of the world's richest person.