US EditionMusk's Tesla package pays him billions even if he misses 'Mars-shot' goals
Elon Musk could earn up to 12% of Tesla shares if he meets ambitious market and operational goals, potentially becoming the world’s first trillionaire, shareholders will decide.
- On Nov. 6, Tesla shareholders will vote at the Austin, Texas, Tesla headquarters on a restricted stock grant that could give Elon Musk, Tesla CEO, up to 12% of outstanding shares.
- The Tesla board argues the package is necessary to keep Elon Musk, CEO focused and motivated, following a Delaware judge's January 2024 rescission and last year's ratification vote.
- Musk's award is split into 12 tranches tied to market-cap and operational goals up to $8.5 trillion, with 14 proposals on the meeting agenda, including a 208 million equity shares reserve.
- A growing coalition of pension funds and Democratic state fiduciaries is speaking out, urging opposition due to the package's size and governance concerns, with Brad Lander and Thomas P. DiNapoli calling the pay excessive and urging votes against the plan and three directors this year.
- The outcome may set a precedent for founder pay and board independence as Elon Musk could hold a 28.8% potential ownership stake, a pivotal vote for pension fund and fiduciary community oversight.
12 Articles
12 Articles
Tesla package pays Musk billions even if he misses goals
When Tesla's board of directors offered Elon Musk the biggest executive pay package in corporate history in September, it reassured investors that he would have to achieve the equivalent of "Mars-shot milestones" to earn $878 billion in Tesla stock over 10 years.
Elon Musk could make $50 billion even without hitting massive Mars-shot goals for Tesla
Elon Musk’s Tesla pay package could net him over $50 billion despite missing major targets. The compensation plan’s soft milestones raise questions about governance and true company transformation.
There's Wiggle Room in Musk's Demanding Tesla Deal
Tesla's board has offered Elon Musk the largest executive pay package ever seen—one worth $878 billion over a decade if he hits what the board described as "Mars-shot milestones." These targets are supposed to be so ambitious that Musk would have to transform both Tesla and society, particularly in...
Elon Musk's Record-Breaking $878 Billion Tesla Package Offers Him Big Pay For Small Wins
When Tesla directors offered Elon Musk the biggest executive pay package in corporate history in September, it reassured investors that he would have to achieve the equivalent of "Mars-shot milestones" to earn $878 billion in Tesla stock.
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