Tesla: Clear path for record payout for Elon Musk - Tesla shareholders greenlight Elon Musk’s $8.5 trillion payday by 2035
Tesla shareholders have approved a compensation package for Elon Musk, with over 75% of the votes. The deal aims to secure Elon Musk's long-term commitment to Tesla, with a significant payout contingent on Tesla's stock market capitalization reaching a certain threshold by 2035.
To qualify for the full payout, Tesla must reach a stock market capitalization of at least $8.5 trillion by 2035. This is a substantial increase from the previous goal set in 2018, where Elon Musk's compensation plan involved reaching a $650 billion stock market cap by the same year. Under the new agreement, Elon Musk could receive up to 12 percent of Tesla's shares. However, the exact size of the share capital required to fully compensate Elon Musk by 2035 is not specified in the available information.
The approved compensation package for Elon Musk sets ambitious targets for Tesla's stock market capitalization over the next decade. If achieved, it will secure Elon Musk's long-term commitment as CEO and potentially reward him with a significant stake in the company.
