Earlier this week, American automotive and clean energy company Tesla announced that its shareholders have voted in favour of CEO Elon Musk’s almost $1 trillion pay package with 75 per cent support among voting shares.
In simple words, they voted and approved a massive compensation deal for Elon Musk and this package could be worth $1 trillion over the next decade.
Musk will only get the full payout if Tesla accomplishes very ambitious targets. These targets include the company’s value to reach around $8.5 trillion from its current $1.4 trillion. Millions of vehicles sold annually including robot-taxis and humanoid robots over a multi-year period. And, most importantly, Musk remains the CEO for many years ensuring that the company takes action on this grand vision.
Now, if everything goes according to plan, the 54-year-old billionaire becomes one of the highest-paid executives in history. While the total could be up to $1 trillion, according to Reuters after deductions it would be about $878 in net terms.
