Tesla Shareholders To Vote On $1T Musk Pay Deal

Benzinga

Tesla shareholders will vote on a record compensation plan that could grant Elon Musk up to $1 trillion in stock and raise his ownership to about 25%. The package ties 424 million shares to aggressive market-cap and profit milestones, including scaling self-driving, robotaxis, and humanoid robots.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Tesla's shareholders were both Thursday had a record pay package for CEO Elon Musk that could

00:06grant him up to $1 trillion in stock and boost his ownership to roughly 25%,

00:11according to the Wall Street Journal. The proposed plan would award Musk 424 million new shares

00:16divided into 12 tranches, each tied to market cap and operational milestones.

00:20Tesla's market cap goals ranged from $2 trillion to $8.5 trillion, with current value near $1.5

00:26trillion. Half the milestones involved profit targets, requiring Tesla to reach a trailing

00:3112-month adjusted EBITDA of $50 billion to unlock the first tranche and sustain $400 billion for

00:37the full war. Other milestones include scaling self-driving subscriptions, robo-taxis, and

00:42humanoid robots. Musk's current net worth exceeds $450 billion. For all things money, visit Benzinga.com.

Category

Transcript

Be the first to comment

Recommended