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Musk's Latest Compensation Plan Revealed, $1 Trillion "Bet"
BlockBeats News, September 5th: The Tesla board of directors proposed a new compensation plan on Friday, under which if Musk achieves a series of highly challenging goals in the next ten years, he will receive a reward worth about $1 trillion. Under this plan, Musk will not receive any salary or bonus, and his compensation will be in the form of gradually vested stocks. Unlocking conditions include a significant increase in Tesla's market value, a substantial improvement in profitability, the sale of millions of cars, and 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 aims to align extraordinary long-term shareholder value with incentives to drive our visionary leader to achieve optimal performance."
The board emphasized that Musk's incentives are highly aligned with investor interests. If Tesla's growth stagnates, he will receive nothing. However, such a massive scale of compensation is likely to reignite intense debates about the income level of the world's richest person. (Jinse)
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