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SpaceX ties Musk compensation to Mars colonization goal
The package would give Musk 200 million super-voting shares if SpaceX reaches a $7.5 trillion valuation and builds a 1 million-person Mars colony.
- SpaceX's board approved a compensation plan for founder Elon Musk linking rewards to colonizing Mars and operating space-based data centers, with details revealed in a confidential registration statement filed with the Securities and Exchange Commission and reviewed by Reuters last week.
- The performance package awards 200 million shares if SpaceX hits a $7.5 trillion valuation and establishes a Mars colony of at least 1 million people, plus 60.4 million shares for operating space data centers providing at least 100 terawatts of capacity.
- SpaceX is preparing for an initial public offering near Musk's June 28 birthday, which could value the firm at about $1.75 trillion. The company has not responded to requests for comment regarding the compensation details.
- Executive compensation expert Eric Hoffmann of Farient Advisors called the package incomparable, noting that SpaceX and Tesla are effectively bidding against each other for Musk's attention. He cited Musk's previous threats to leave Tesla without generous pay.
- Musk's dual management of SpaceX and Tesla potentially creates tensions for shareholders of both companies. Already worth $776 billion, he holds 68.8 million in previously awarded Class B stock options that expire in 2031.
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Musk’s pay goes interplanetary as SpaceX links compensation to Mars goal
SpaceX's board has approved a groundbreaking pay package for founder Elon Musk. This plan links his compensation to extraordinary future achievements. These include establishing a permanent human colony on Mars and operating massive data centers in space. These ambitious targets are designed to align with SpaceX's long-term vision. The company is preparing for a potential initial public offering.
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Leaning Left2Leaning Right5Center3Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 20%
C 30%
R 50%
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