Tesla CEO Elon Musk Proposed $1 Trillion Pay Package by Board of Directors

Elon Musk, the visionary CEO of Tesla, may be on track to become a trillionaire if he can meet a series of ambitious performance targets set by the company’s Board of Directors. The proposed pay package is designed to reward Musk for his exceptional leadership and contributions to Tesla’s success.

Since 2017, Musk has not received significant compensation, but he successfully completed his last pay package by delivering substantial shareholder value through performance-based tranches. However, a court ruling prevented him from claiming the award, deeming it an “unfathomable sum.”

Now, Tesla is taking steps to ensure that Musk is appropriately compensated to retain him as the CEO. The Board recognizes Musk as a key driver of the company’s growth and success, making his continued leadership essential for Tesla’s future.

The upcoming Shareholder Meeting will address various issues, including the approval of Musk’s proposed pay package. Robyn Denholm and Kathleen Wilson-Thompson highlighted Musk’s contributions and urged shareholders to vote in favor of the payout.

Key Points from the Statement:

• The new pay package builds upon the success of previous awards and challenges Musk to achieve even more aspirational goals.
• Musk must meet operational milestones, reach Adjusted EBITDA targets, and grow Tesla’s market capitalization by trillions of dollars to receive the full award.
• The package includes innovative features to ensure long-term CEO succession planning and retention.

Musk will need to accomplish a series of challenging tasks to earn the 423,743,904 shares divided into 12 tranches under the proposed pay package. The Board is confident in Musk’s abilities and believes that he is the right leader for Tesla’s future.

The new pay package aims to incentivize Musk to continue guiding Tesla towards unprecedented growth and success, making him a key player in the company’s journey to become the most valuable company in history.