HomeCelebrityElon Musk Just Gave Himself The Most Amazing Pay Packet
Elon Musk Just Gave Himself The Most Amazing Pay Packet
January 26, 2018
Elon Musk, the CEO of Tesla and all-round badass, is well known for being an inspiration and forward-thinking entrepreneur.
Having amassed a net worth of $20.5 billion before the age of 50, Musk has just set himself the most ambitious of targets.
Amid speculation he could be stepping down from Tesla, the $59 billion company at the forefront of the electric car industry, Musk has instead dedicated (at least) the next 10 years of his life to making Tesla a trillion dollar company.
The rumours Musk could be on the verge of leaving Tesla started almost 5 years ago, right after the introduction of their Model 3, when he said “I’ll have to see, you know, how things are going at that point,” adding, “I will certainly be the CEO for the next four or five years, and it’s T.B.D after that.”
Half a decade on, following the successful release of the aforementioned Model 3, Musk has officially squashed any doubts that he would remain at the helm, by outlining the most outrageous compensation package imaginable.
The Tesla chief will only be paid if he guides the company to a series of astounding milestones, starting with a $100 billion valuation.
For guiding the company to this milestone, Mr. Musk would receive 1.68 million shares (roughly 1% of the company) – as long as he hits the revenue and adjusted profit goal alongside the market cap target.
For every $50 billion increase in market cap, the same reward would be given. This means the Tesla CEO could potentially be rewarded with $55 billion in stock!
Elon himself is of course very confident of this, saying “I actually see the potential for Tesla to become a trillion-dollar company within a 10-year period” when he spoke with The NY Times.
In order for him to achieve his lofty task, Musk would need to take Tesla from a current market cap of $59 billion all the way up to $650 billion. This would make Tesla one of the largest five companies in the United States, something critics do not think is possible.
As the old saying goes, “he who dares, wins“.
"I say something, and then it usually happens. Maybe not on schedule, but it usually happens." – Elon Musk pic.twitter.com/1FKGhA0Vvr