Tesla Shareholders Approve Elon Musk's Compensation Package
At the annual shareholder meeting in Austin, Texas, Tesla shareholders approved a compensation package worth about $1 trillion for CEO Elon Musk. The package depends on Musk meeting specific performance goals.
Details of the Compensation Plan
More than 75% of shareholders voted in favor of the 2025 CEO Performance Award. The Tesla board outlined in a letter that Musk must achieve exceptional financial results and continue in a leadership role over the next several years to earn the full payment.
Key Performance Targets
- Expansion of Tesla's robotaxi business.
- Increase in Tesla's market value by $7.5 trillion.
- Musk's tenure with Tesla for 7.5 to 10 years.
If Tesla's market value reaches $8.5 trillion, Musk would receive approximately 12% of the company's shares.
The letter stated Musk's payout would be around $1 trillion, contingent on meeting these ambitious targets.
Summary
Elon Musk's compensation is tied to extraordinary growth milestones that, if achieved, would make it one of the largest CEO awards ever.
Author's summary: Tesla approved a $1 trillion payout to Elon Musk tied to bold growth and leadership targets, reflecting high expectations for the company's future.
Would you like me to format this in a specific style or to include additional HTML elements?