The package would grant Mr Musk additional Tesla shares if the company achieves growth far beyond its current value, with a market capitalisation higher than any other company has ever achieved.
Accordingly, Mr. Musk can receive 423.7 million Tesla shares, worth about 143.5 billion USD at current prices, but only when Tesla reaches a market capitalization of 8.5 trillion USD - more than 7 times higher than today (1.1 trillion USD).
If successful, the shares would be worth nearly $1 trillion, making Tesla the most valuable company in history.
Billionaire Musk currently owns 410 million Tesla shares, worth 139 billion USD, along with shares in xAI, SpaceX, and several other companies, making him the richest person in the world with a fortune of 378 billion USD according to Bloomberg .
He also has options to buy an additional 304 million Tesla shares, although a Delaware judge had previously ruled that his 2018 pay package was illegal.
The new package also calls for Tesla to invest in xAI, the private artificial intelligence company that Mr. Musk owns, which could help the billionaire consolidate his growing business empire and increase his personal net worth.
Even though Tesla is now the world's most valuable automaker, traditional companies like Toyota still sell more cars and are more profitable.
However, Mr. Musk and investors expect the plan to develop self-driving cars, robotaxis and humanoid robots to create huge profits and value in the future.
“This is a big payday, but Tesla needs to keep its biggest asset, Mr. Musk, as CEO,” said Wedbush Securities analyst Dan Ives.
Meanwhile, CEO Ross Gerber said the package reflects Mr. Musk’s concerns about control of the company. “Musk is afraid of being kicked out of Tesla because he only owns 13% of the shares. The package helps him maintain power,” Mr. Gerber said.
To receive all the shares under the new package, Mr. Musk will have to hit ambitious financial and operational targets, including having 1 million robots operating or increasing adjusted operating income to $50 billion, above the record $19.2 billion in 2022.
Even without the additional shares, Mr. Musk would still be much richer if Tesla's market capitalization reached $8.5 trillion, thanks to the 410 million shares he currently owns. The new package once again affirms Elon Musk's position at Tesla and his potential to create wealth like no other in the world.
According to CNN
Source: https://baovanhoa.vn/kinh-te/ong-elon-musk-co-the-thanh-ty-phu-nghin-ty-nho-goi-luong-khung-cua-tesla-166419.html
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