Tesla shareholders have ratified an unprecedented compensation package for CEO Elon Musk that could ultimately be worth close to $1 trillion. The deal, approved by 75% of voting shareholders, grants Musk stock options contingent on achieving extraordinary growth milestones over the next decade.
Key performance targets include delivering 20 million vehicles, deploying one million humanoid Optimus robots, achieving 10 million Full Self-Driving subscriptions, and increasing Tesla's market value to $8.5 trillion from its current $1.4 trillion. Musk would receive no salary under the agreement, only stock grants worth approximately $1 trillion if all targets are met.
The approval comes despite concerns from some investors about Musk's focus on robotics rather than reviving Tesla's core automotive business, which has seen sliding sales. While supporters see the deal as essential to retaining Musk's leadership, critics worry about his polarizing public persona and the feasibility of the ambitious targets. Following the vote, Tesla shares saw a modest increase, building on a 62% rise over the past six months.
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