Summary
Tesla's shareholders have approved a pay plan for Elon Musk worth up to $1 trillion, contingent on meeting specific goals over the next decade. Musk will not receive a regular salary and must accomplish ambitious targets, including significantly increasing Tesla's market value and producing numerous vehicles and robots.
Key Facts
- Tesla shareholders agreed to a pay package for Elon Musk worth up to $1 trillion.
- Musk will not get a salary but can earn this amount if he meets certain goals over 10 years.
- Key targets include delivering 20 million cars and one million robots, as well as raising Tesla's market value from $1.4 trillion to $8.5 trillion.
- The deal aims to ensure Musk stays with Tesla due to the critical role he plays in the company’s future.
- Some Tesla shareholders and analysts believe Musk’s leadership is crucial to Tesla’s success and market value.
- Musk’s package has drawn mixed reactions due to his political involvement, but investors see it as a small impact on Tesla's earnings.
- There is no restriction in the agreement on Musk's political activities or public statements.
- The board may have the flexibility to adjust targets if certain challenges arise.
