SpaceX to Reward Musk for Mars Colony With 1 Million People
The award also depends on SpaceX reaching a $7.5 trillion valuation and building orbital data centers, the filing said.
- On Wednesday, SpaceX CEO Elon Musk's new 1 billion-share compensation plan, disclosed in an S-1 filing, requires him to establish "a permanent human colony on Mars with at least one million inhabitants."
- While Silicon Valley "moonshot" packages typically reward corporate growth, this 15-tranche award ties vesting to market-cap milestones and the establishment of a human colony on Mars; the board adjusted milestones after xAI's February merger.
- If SpaceX hits the $7.5 trillion market-cap milestone, the award could theoretically swell to about $583 billion, dwarfing Musk's previous $55.8 billion Tesla compensation plan that faced a Delaware court battle.
- Separately, the filing outlines an award of about 302 million shares for orbital data centers, reinforcing Musk's 85.1 per cent voting power ahead of a record initial public offering planned for next month.
- The filing says the award's second condition "reads more like science fiction than securities law," as SpaceX lacks specifics on how to certify a million-person Mars colony, though both milestones must be met to unlock vesting.
24 Articles
24 Articles
kreiszeitung.de
tz.deThe aerospace giant plans to "make life multiplanetary" while striving for the greatest IPO of all time.
SpaceX to give out bonus when 1m humans settle on Mars
NEW YORK: SpaceX’s blockbuster IPO filing included some out of this world details, including a provision that founder Elon Musk’s massive bonus only kicks in if one million humans settle on Mars. The bonus structure, laid out in SpaceX’s prospectus filed with US regulators on Wednesday, reads less like a compensation agreement and more like a science fiction plot. Musk’s bonus is contingent on SpaceX’s stock market value hitting targets ranging …
The spectacular presentation of SpaceX’s stock exchange proposal included some details from another world, including a clause according to which the huge economic bonus of founder Elon Musk will only come into effect if a million humans settle on Mars. The bonus structure, set out in the SpaceX prospect presented to US regulators on Wednesday, seems more like the argument of a science fiction novel than a compensation agreement. Musk’s bond depe…
Space X founder Elon Musk is not only planning the biggest IPO ever since the stock was invented. He also wants to make a small congratulations for a million-dollar city on Mars.
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