Summary
Elon Musk could receive up to $878 billion over the next decade if he meets specific performance goals at Tesla. These goals include boosting vehicle production and increasing the company's market value. Musk's payment plan ties him to Tesla for the next 10 years and has already been approved by a significant majority of shareholders.
Key Facts
- Elon Musk's potential pay package is worth up to $878 billion, contingent on hitting performance targets.
- The plan was approved by more than 75% of Tesla shareholders at a meeting.
- Musk's targets include producing 20 million vehicles in 10 years and launching 1 million robotaxis.
- Other goals include Tesla's market value increasing up to $8.5 trillion by 2035.
- Musk is required to maintain Tesla's market valuation and accomplish several operational milestones to receive this payment.
- Tesla shares rose by 2% after the announcement, with a 62% increase over six months.
- The board believes this payment plan is crucial to keep Musk at Tesla and further develop technologies like AI.
