At Thursday’s annual meeting in Austin, Texas, Tesla shareholders approved, by more than 75%, a new compensation plan for CEO Elon Musk, according to a company representative.
The 10-year pay package is structured in 12 tranches linked to operational and financial milestones. Depending on goal attainment, Musk could receive from $878 billion to $1 trillion in total compensation, including stock, as Tesla pursues growth in artificial intelligence and robotics.
The targets
Key objectives cited include delivering 20 million vehicles to customers, operating 1 million robotaxis, selling 1 million humanoid robots, and achieving $400 billion in net profits.
To unlock the full award, Tesla’s market capitalization would need to rise from about $1.5 trillion today to between $2 trillion and $8.5 trillion.
Source: AMNA
