Tesla is giving Elon Musk $1 trillion in compensation
Tesla has announced a new compensation package for CEO Elon Musk, which could be worth nearly $1 trillion over the next decade if specific targets are achieved. Musk hinted during a meeting that if he is not granted 25 percent voting rights in the company, he may leave Tesla to focus on his other ventures.
The decision comes after lengthy discussions between Musk and Tesla’s board of directors. In documents filed with the SEC, Tesla stated that Musk’s commitment is “critical” to the company, and due to his political activities, it is necessary to ensure his continued focus on Tesla.
The key goals of the compensation package include:
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Raising Tesla’s market capitalization to $8.5 trillion
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Selling 12 million additional electric vehicles
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Securing 10 million autonomous driving subscriptions
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Deploying 1 million robotaxis
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Selling 1 million Tesla Bots
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Increasing consolidated revenue to $400 billion
Chair of the board Robyn Denholm said: “Retaining and incentivizing Elon is crucial for Tesla to achieve its goals and become the most valuable company in history. We believe Elon is the only person capable of leading Tesla at this critical time.”
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