Tesla has outlined a massive pay package for Elon Musk that would make him the world’s first trillionaire.
Last week, investors proposed granting the Tesla CEO with 423.7 million additional shares of company stock, which are valued at US$143.5 billion (about C$198.5 billion) at current stock value and would push Musk’s net worth into the trillion-dollar sphere. Musk, who’s already the world’s richest man, would receive this extra stock should Tesla stock reach an overall value of US$8.5 trillion (about C$11.75 trillion).
However, this is a lofty goal for several reasons. Most importantly, Tesla’s current market cap is US$1.1 trillion (about C$1.5 trillion), so it has a long way to go. To put this ambitious US$8.5 trillion target into perspective, this would be roughly double the current market value of Nvidia, the world’s most-valuable company. On top of that, Musk’s increasingly polarizing antics, which include everything from juvenile and misleading social media posts to supporting Donald Trump and referencing Hitler, have only driven many people away from Tesla.
Investors, however, are optimistic that the company can continue to grow thanks to self-driving cars, Musk’s xAI company, and robots. The board says it “believes that Mr. Musk singularly possesses the leadership characteristics necessary to transform Tesla and realize its long-term mission at an unparalleled level.”
Via: CNN
MobileSyrup may earn a commission from purchases made via our links, which helps fund the journalism we provide free on our website. These links do not influence our editorial content. Support us here.
