Elon musk was awarded a nearly $1,000,000,000,000 payment package by the shareholders of Tesla, which would be given out within the next decade. This would make Elon Musk's payment compensation the largest amount ever recorded.
However, this compensation does have conditions placed on it. The value of the company needs to be risen from $1.1T (Where it is at right now) to $8.5T. There also needs to be over 1 million Robotaxis and 1 million humanoid robots within commercial operations over the next 10 years. Once these goals are met, Musk's ownership stake within Tesla would raise to 29% of the company from about 15%.
The shareholders have ratified this by a more than 75% vote in favor during the shareholder's meeting on the 6th. Not all shareholders are in agreement, such as Norway's $2T sovereign wealth fund, which had voted no to the proposal as the company would be in a much more risky position.
2 comments:
This is pretty interesting, and a little bit crazy to think about! Our world is going to be very different in 10 years (which I know is how things usually work) and that could be a good thing or a bad thing, there is no way to know until it happens! This seems to be a pretty high risk investment on tech innovations, so it will be interesting to see how it all plays out.
That's an incredible amount of money; it really shows how much confidence (and pressure) Tesla's investors are placing on Musk's vision for automation and AI. The scale of those production goals for Robotaxis and humanoid robots sounds almost futuristic, but it also raises questions about feasibility and market saturation. It'll be fascinating to see whether this motivates innovation or stretches Tesla too thin trying to meet such aggressive benchmarks.
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