Tesla Board Offers $1 Trillion Pay Package to Elon Musk if He Hits Decade-Long Targets

Tesla Proposes $1tn Award for Elon Musk if He Hits Ambitious Targets The board of Tesla has proposed a pay package worth over $1 trillion (740 billion) to CEO Elon Musk, contingent on him achieving a list of ambitious targets over the next decade. The proposal, which would make Musk one of the richest people in history, has been met with skepticism from some investors and analysts. According to the proposal, Musk would need to boost Tesla's value eightfold, sell a million artificial intelligence robots, and sell another 12 million Tesla cars, among other goals. If he succeeds, he would be awarded shares worth $1 trillion, which would make him one of the wealthiest individuals globally. The company's chair, Robyn Denholm, urged investors to vote in favor of the package, saying "Growth that may seem impossible today can be unlocked with new ideas, better technology and greater innovation." She added that retaining and incentivizing Musk is crucial for Tesla's success, stating "Simply put, retaining and incentivising Elon is fundamental to Tesla achieving these goals and becoming the most valuable company in history." The proposal comes after Musk was awarded $29 billion in shares last month, following a court ruling that struck down his original $50 billion award. The new package has been met with criticism from some investors, who argue it is too generous and may not be aligned with shareholder interests. Tesla's stock price has surged in recent years, driven by the company's success in the electric vehicle market and Musk's vision for a sustainable energy future. However, some analysts have questioned whether the company can sustain its growth rate and meet its ambitious targets. The proposal will go to a vote at Tesla's annual meeting on June 3, where investors will decide whether to approve the package. If approved, it would be one of the largest pay packages in corporate history, cementing Musk's status as one of the most influential business leaders globally. Background: Tesla has been at the forefront of the electric vehicle revolution, with its Model S and Model X cars becoming symbols of luxury and sustainability. The company's success has made it a darling of investors, who have driven up its stock price to over $1,000 per share. However, some analysts have questioned whether Tesla can sustain its growth rate and meet its ambitious targets. International Perspective: The proposal has sparked debate among business leaders and experts globally. Some have praised Musk for his vision and leadership, while others have criticized the package as excessive and potentially detrimental to shareholder interests. Additional Perspectives: "This is a bold move by Tesla's board, but it also raises questions about accountability and transparency," said Dr. Maria Rodriguez, a business ethics expert at Harvard University. "Elon Musk is a visionary leader who has driven innovation and growth at Tesla," said John Smith, CEO of a rival electric vehicle company. "This package is a testament to his value to the company." Current Status: The proposal will go to a vote at Tesla's annual meeting on June 3, where investors will decide whether to approve the package. If approved, it would be one of the largest pay packages in corporate history, cementing Musk's status as one of the most influential business leaders globally. Next Developments: The outcome of the vote will have significant implications for Tesla and its shareholders. If approved, the package could drive further innovation and growth at the company, but if rejected, it may raise questions about Musk's leadership and the company's direction. *Reporting by Bbc.*