Tesla's board is proposing a new bonus plan for CEO Elon Musk, potentially granting him significant control and financial rewards if the company meets ambitious targets. The plan, which requires shareholder approval, could be worth $1 trillion and aims to double Tesla's market value and achieve 20 million vehicle deliveries.
Tesla Proposes New Bonus Plan to Empower Elon Musk
Tesla Proposes New Bonus Plan to Empower Elon Musk
Tesla's board wants to offer the electric car company's founder and CEO, Elon Musk, a new bonus plan, reports CNBC, citing financial documents.
The plan, which the board hopes shareholders will approve, would allow Elon Musk to receive a series of new shares if the company meets certain financial goals over the next decade. It would also give him increased control over the company, something he has demanded since last year.
According to sources including the Financial Times, the value of the new compensation plan could reach $1 trillion.
To achieve the first part of the bonus, Tesla would need to nearly double its market value and reach 20 million produced and delivered vehicles, writes CNBC.