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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
Tesla Inc. proposed a new compensation agreement for Chief Executive Officer Elon Musk potentially worth around $1 trillion, a massive package without precedent in corporate America.
The long-awaited proposal, designed to incentivize Musk to lead Tesla for years to come, sets a series of ambitious benchmarks he must meet to earn the full payout, including expanding Tesla’s nascent robotaxi business and growing the company’s market value to at least $8.5 trillion from about $1.1 trillion today. The plan spans 10 years.
The additional shares Musk could receive would push his holdings in the electric-vehicle maker to at least 25%, according to the terms detailed in Tesla’s proxy filing Friday. Musk has publicly stated he wants a stake of that size.
The plan dangles a financial windfall and expanded control of the company to Musk, already the world’s richest person, after his 2018 package valued in excess of $50 billion was struck down by a Delaware court. While Tesla appeals that decision, the board is seeking other ways to compensate its CEO, including with an interim stock award in early August valued at about $30 billion.
Today's show features:
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By Bloomberg3.7
374374 ratings
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
Tesla Inc. proposed a new compensation agreement for Chief Executive Officer Elon Musk potentially worth around $1 trillion, a massive package without precedent in corporate America.
The long-awaited proposal, designed to incentivize Musk to lead Tesla for years to come, sets a series of ambitious benchmarks he must meet to earn the full payout, including expanding Tesla’s nascent robotaxi business and growing the company’s market value to at least $8.5 trillion from about $1.1 trillion today. The plan spans 10 years.
The additional shares Musk could receive would push his holdings in the electric-vehicle maker to at least 25%, according to the terms detailed in Tesla’s proxy filing Friday. Musk has publicly stated he wants a stake of that size.
The plan dangles a financial windfall and expanded control of the company to Musk, already the world’s richest person, after his 2018 package valued in excess of $50 billion was struck down by a Delaware court. While Tesla appeals that decision, the board is seeking other ways to compensate its CEO, including with an interim stock award in early August valued at about $30 billion.
Today's show features:
See omnystudio.com/listener for privacy information.

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