Economy

Tesla's future
Tesla's extreme goal: To be twice as big as Nvidia

In order for Elon Musk to receive full compensation under Tesla's new salary package, the company must increase its market capitalization to $8.5 trillion – a level that appears to be almost unattainable, notes the Financial Times.

Today, Tesla is valued at around $1 trillion. By comparison, the world's most valuable company, chip giant Nvidia, has a market capitalization of $4.2 trillion.

The package therefore requires the electric car manufacturer to be valued at more than double Nvidia.

New salary package for Musk – could get $1 trillion

Tesla has presented a new salary package for Elon Musk worth up to $1 trillion over ten years, linked to extremely high targets for the company's value, profits and sales of electric cars, robo-taxi and AI robots. This is reported by the Financial Times.

Musk does not receive a salary or bonus, but is paid in shares if the milestones are achieved. To get the full amount, Tesla must increase its market value to $8.5 trillion, sell 12 million more cars and significantly increase profits.

The package has sparked debate about the size of Musk’s compensation, especially since his previous record-breaking 2018 deal was invalidated by a court.

Trump’s US Border Issue
Hyundai Project Paused After Mass Raid in the US

Construction of Hyundai’s new battery factory in Georgia, USA, has been paused after US authorities arrested up to 560 workers, about 300 of whom are South Korean citizens, in a massive raid, Reuters reports.

The factory is part of a $4.3 billion investment with LG Energy Solutions and is part of Hyundai’s total investment of $12.6 billion in the state – the largest in Georgia’s history.

The raid is seen as part of the Trump administration's tougher line on immigration

Norwegian-Swedish insider scandal
18 charged with serious insider trading - believed to concern Pagero

The Swedish Crime Authority has arrested a total of 18 people for serious insider trading on the Swedish stock exchange. This is according to a press release.

Of the charged, 15 are Norwegians and three are Swedes, and in total the suspects are estimated to have earned around SEK 10 million from a takeover bid for a listed software company.

- According to the indictment, two people have received insider information through their work at a Norwegian venture capital company. They have then traded through the shell themselves, but also spread the information to relatives who have barely traded shares before, says state prosecutor Pontus Hamilton.

The company in question has not been confirmed, but according to information to DI, among others, it is Pagero.

Mother got most involved in the scandal: “Acted as a whistleblower”

The mother of one of the leaks made the biggest profit in the suspected Norwegian-Swedish insider scandal, writes Affärsvärlden.

She is suspected of having received insider information from her son who worked as a manager at the Norwegian venture capital company Verdane.

“She has acted as a whistleblower for her son and others in the family, but she has also acted for herself and her husband,” says State Prosecutor Pontus Hamilton at the Swedish Economic Crime Agency to the business newspaper.

The mother is estimated to have made a criminal profit of around 6 million kronor, writes Afv.