Is this an incentive package to keep him out of politics? 😊
However, there are some stringent requirements attached. Global competition regarding electric vehicles is getting fiercer (e.g. China BYD). Even a genius like Musk may not be able to achieve them.
"Tesla has proposed a new compensation agreement for CEO Elon Musk, potentially worth up to nearly $1 trillion, a massive package without precedent in corporate America.
The plan, which requires shareholder approval, is meant to incentivize Musk to spend more time with the struggling car company. The full payout requires him to hit several aggressive benchmark targets.
To reach the first target, Tesla needs to reach a market valuation of $2 trillion and achieve 20 million vehicle deliveries, vs. fewer than 2 million in 2024. Eventually, for the full payout, Tesla would need to reach a market cap of $8.5 trillion.
The proposal would also require 1 million robotaxis in commercial operation and the delivery of 1 million artificial intelligence bots. Musk would need to remain with Tesla for at least seven and a half years to cash out on any stock, and 10 years to earn the full amount."
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