Monday, April 15, 2024

The staggering compensation Tesla could pay Elon Musk


According to ForbesElon Musk is the second richest person in the world with an estimated fortune of $ 164.4 billion as of May 4. In April 2020, it was “only” $ 24.6 billion. And soon it could be even more important, while Elon Musk … still does not receive a salary from Tesla, of which he is CEO. But as explained Electrek, the businessman recently released the fifth and sixth installments the lucrative compensation plan he concluded with the automaker, of which he is CEO.

Tesla generated more than $ 10 billion in revenue and an EBITDA of $ 1.8 billion in the last quarter. Enough to secure an additional $ 30 billion in Tesla stock à Elon Musk. But the latter has not yet announced if he wants to unlock these new options, which would allow him to become the richest man in the world ahead of Jeff Bezos, at the head of a fortune estimated at 192.2 billion dollars by Forbes. Seeing Elon Musk dominate this ranking would only be a postponement if he preferred to wait to receive this money: the other six installments of his compensation plan should allow him to earn close to 100 billion dollars, Electrek emphasizes.

Justice gets involved

The CEO of Tesla intends to use this money to finance the construction of a civilization on Mars, he already announced it. The shareholders of Tesla, however, have filed a lawsuit against Elon Musk and Tesla, accusing them of having violated their fiduciary obligations by granting an enrichment to the businessman with this compensation plan, he stresses. Associated Press. A Delaware judge ordered attorneys representing Tesla’s board of directors to turn over certain communications Musk may have shared with the company’s top in-house attorneys before the board approved the plan.

Ebenezer Robbins
Ebenezer Robbins
Introvert. Beer guru. Communicator. Travel fanatic. Web advocate. Certified alcohol geek. Tv buff. Subtly charming internet aficionado.

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