Tesla lures Elon Musk – with $1 trillion
Updated 16.35 | Published 14.46
Tesla wants Elon Musk to focus more on the electric car giant.
That's why it's luring the world's richest person with $1 trillion.
But it won't come for free.
Quick version
Tesla's board of directors has offered Elon Musk a compensation package worth a potential $1 trillion to keep him as CEO.
The package consists partly of shares and requires Tesla to achieve specific financial and operational goals.
Musk's compensation is also linked to his reaching certain set goals, meaning he gets 1 percent of the shares for every $500 billion increase in market capitalization.
Tesla's board has presented a lure for Elon Musk to remain in the role of CEO, and a carrot to lift the company to new heights.
This in a massive compensation package that could be worth 1,000 billion dollars - 9,400 billion kronor - writes DI. The compensation will partly consist of shares in the company.
But for the new mega salary to be realized, the world's richest man needs to meet high-level goals, according to DI.
Will multiply the market capitalization
The market capitalization will increase from 1,100 billion dollars to at least 8,500 billion dollars over a ten-year period.
- If he delivers and reaches the very high goals set in the plan, then he will get shares. It's about 1 percent for every 500 billion dollars in market capitalization, plus he must meet certain operational goals to get it, Tesla chairman Robyn Denholm tells CNBC, according to DI.
Elon Musk's fortune is currently estimated at $430 billion, according to Forbes.
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