Tasers and Musk-Inspired Pay Package Make Axon CEO a Billionaire

Rick the Taser king: He started his company aged 23, now he is a billionaire

Rick Smith says he and his brother came up with the idea for their company after high school football teammates were killed in a shooting.

Tasers and Musk-Inspired Pay Package Make Axon CEO a Billionaire

Axon Enterprise Inc. modeled its CEO pay package after Elon Musk’s incentives at Tesla Inc. in a high-risk, high-reward gambit. Now Musk and Axon co-founder Rick Smith have another thing in common: They’re both billionaires.

Rick started the company that makes Tasers in a garage. Now he is a billionaire

Axon had 10 years to reach the 12 tranches, but achieved them all by May 2023. The stock price increased from about $US29 upon board approval of the pay plan to more than $US225 when the final tranche was met. Revenue grew to $US1.2 billion from $US343 million. Axon’s stock has continued its rise this year, climbing 159 per cent and hitting a new high this week in New York trading. Last month, the company announced a deal to supply the Royal Can…