Elon Musk: Elon Musk is at number one in the list of the richest men in the world and now he is going to create history by becoming even richer. In fact, Tesla shareholders on Thursday approved a salary package worth billions of dollars for Elon Musk. In the meeting held on Thursday, more than 75 percent shareholders supported it. During this, Musk said, the point we are about to reach is not just a new chapter of Tesla’s future, but a whole new book.
Paving the way for earning 1 trillion dollars
With this, if Musk fulfills the long term performance target for his company, then he can earn up to 1 trillion dollars. This package is designed to keep Musk at Tesla for a long time. Like the CEOs of most other companies, Musk does not take salary. His entire income comes through stock options. Now under this new package, he can get 423.7 million shares of Tesla in the next decade. If the company’s market value reaches US$8.5 trillion in the meantime, Musk will be paid approximately US$1 trillion.
Will Tesla leave Nvidia behind?
That is, according to the performance-based incentive structure prepared by the Tesla board, if the company achieves the target of market value of $8.5 trillion, then Musk will get a share package worth billions of dollars. This will not only bring profit to the company but will also bring a huge increase in Musk’s net worth.
To achieve this target, Tesla will have to increase its share price by 466 percent from the current level. If this happens, Tesla will become the most valuable company in the world, leaving Nvidia behind. With this, if Musk gets all the 12 installments of this package, then his earnings will reach approximately US $ 275 million per day. This package received by Musk is considered to be the biggest in the history of the corporate world.
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