The article discusses Tesla shareholders’ approval of a $3 billion pay package for CEO Elon Musk, making it one of the largest compensation deals ever struck between a public company and its chief executive. The pay plan, which could net Musk more than $50 billion if all goals are met, was approved by a majority of Tesla shareholders. It allows Musk to earn stock options over a decade if Tesla reaches certain market capitalization and operational milestones. The deal aims to incentivize Musk to build on Tesla’s recent profitability and continue its push to become a mainstream automaker. Critics argue the pay package is too generous, but supporters say it properly aligns Musk’s interests with those of shareholders. The article also compares Musk’s pay to other CEOs’ compensation.
Source: https://apnews.com/article/tesla-elon-musk-ceo-pay-comparison-6a0af2259f2b7d7b2485dad4466e5d57