Tesla approves Elon Musk's $1 trillion compensation plan!
Tesla shareholders approved a compensation plan on Thursday, which could make the CEO, already the world's richest person, the first billionaire with a trillion-dollar compensation.
Tesla just announced that more than 75% of shares voted in favor of the compensation plan at the company's annual shareholders meeting, and the vote did not include the 15% of the company's shares that Musk already owns.
Musk does not receive any salary, but the approved compensation plan is in the form of stock rewards. Over the next 10 years, he will be eligible for up to 423.7 million additional Tesla shares, which could be worth approximately $1 trillion, assuming the company reaches an $8.5 trillion market capitalization. Musk would then be eligible for the full potential payment. Additionally, Tesla needs to achieve a series of operational or financial goals to receive all the shares.
According to this plan, it is equivalent to earning $275 million per day over the next 10 years. In order for Tesla to reach the required $8.5 trillion market capitalization, the stock price needs to rise by 466% from its current level.
Original: www.toutiao.com/article/1848082461362188/
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