The article discusses Elon Musk’s potential new compensation plan at Tesla, which could be worth billions of dollars if certain ambitious targets are met. Tesla’s board is considering a new pay package for Musk that would further tie his compensation to the company’s stock price and operational milestones. The proposed plan aims to incentivize Musk to continue leading Tesla for the next decade and drive the company’s growth. Details of the plan are still being finalized, but it could involve stock options or other equity awards contingent on Tesla achieving specific goals related to revenue, vehicle production, and sustainability metrics. Musk’s current pay package, approved in 2018, allowed him to earn over $50 billion in stock options if Tesla hit certain market capitalization and operational targets. The new plan would set even higher bars for Musk to unlock his compensation, reflecting Tesla’s ambitions to become a leader in sustainable transportation and energy solutions.
Source: https://www.cnn.com/2024/06/17/business/elon-musk-next-pay-package-tesla/index.html