zzdcar
Home
/
Reviews
/
Tech
/
Elon Gets His Money, Now He Has To Deliver
Elon Gets His Money, Now He Has To Deliver-September 2024
2024-02-19 EST 22:10:37

Tesla shareholders on Wednesday approved a compensation package for CEO Elon Musk that could net him close to $56 billion, so long as he meets incredibly ambitious milestones. The pay package was approved by a “wide margin,” , despite .

The approval gives Musk an additional $2.6 billion in stock options—about 12 percent of the company’s shares—and means he’s expected to stick around with the automaker for the next decade.

The stock options are split into 12 tranches, which begin once Tesla hits a market cap of $100 billion (it’s currently valued at roughly $54 billion). From there, we reported earlier this month, it increases in $50 billion steps, up to a lofty $650 billion.

If Tesla manages to achieve that ambitious target—which would make it one of the most valuable companies in the world—Musk could net . If he fails to hit any of those targets, he’d earn nothing. (Musk is currently worth about $20 billion, , and doesn’t accept a paycheck currently as it is.)

CNBC reported Tesla’s board felt the plan could not only shower Musk with a windfall, but should increase the value for shareholders “even if Musk misses the targets.”

Tesla boosters don’t appear concerned by the bumpy start to production of Tesla’s all-electric sedan, the Model 3. Tesla expected to produce 5,000 Model 3s per week by the end of the first quarter in 2017, but delayed that target to the end of the second quarter. It’s now targeting 2,500 per week by the end of Q1, but some analysts expect it might even miss that.

That’s no concern, one investor told CNBC.

“Investors aren’t bothered by the fact that Tesla lost more money than people thought they would, or have had continued Model 3 misses,” Loup Ventures managing partner Gene Munster told CNBC. “They see a bigger opportunity over the long-term, and that opportunity is figuring out the trifecta between energy capture, storage and use.”

Tesla has roughly 450,000 Model 3 orders to fulfill, though, and the automaker might require a fresh influx of cash from investors before the year is up. At some point—sooner than later, one imagines—investors will want to see the Model 3 being produced at a rapid clip, generating the profit Tesla believes will come.

Comments
Welcome to zzdcar comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Tech
Danish Investors Dump Tesla Shares After Elon Musk Calls Strikes In Sweden 'Insane'
Danish Investors Dump Tesla Shares After Elon Musk Calls Strikes In Sweden 'Insane'
Danish pension fund PensionDanmark is dumping all of its stock and putting the U.S. EV maker on its exclusion list of the companies it chooses to invest in – or not. The fund is selling all of its shares due to Elon Musk’s refusal to enter into labor agreements...
Sep 12, 2025
Costco Will Sell The Chevy Blazer EV At A Discount To Go With Your Rotisserie Chicken
Costco Will Sell The Chevy Blazer EV At A Discount To Go With Your Rotisserie Chicken
knows that you keep coming back for the and Kirkland brand, but you can now also buy a cheaper at your local warehouse. Chevy notified its dealers that members are eligible for a $1,000 rebate on the through January 2, according to . The discount is part of ,...
Sep 12, 2025
Truck Fans Would Rather Wait For A Toyota Tacoma EV Than Buy A F-150 Lightning Or Cybertruck
Truck Fans Would Rather Wait For A Toyota Tacoma EV Than Buy A F-150 Lightning Or Cybertruck
fans are already cooling on despite more options on the market and news of upcoming models from the likes of Chevy and Ram. The and have yet to be released, while the has recently joined the and for sale in the U.S. And, yet, all of these current and...
Sep 12, 2025
GM Says It's Dropping Apple CarPlay And Android Auto Because They're Unsafe (Update)
GM Says It's Dropping Apple CarPlay And Android Auto Because They're Unsafe (Update)
GM is still dealing with the fallout of its decision to drop Apple CarPlay and Android Auto in favor of developing its own in-house system. In the last eight months, the company has had to deal with while still maintaining its in-house system will be “.” Since neither of...
Sep 12, 2025
Volkswagen EVs Can Now Power Your House For Two Days (Update)
Volkswagen EVs Can Now Power Your House For Two Days (Update)
Experts have said that one of the ways to speed up EV adoption is for them to support . The ability for owners to power their house off their car or from the grid is vital. Just nine EVs on the market currently support bidirectional charging, but now VW...
Sep 12, 2025
Biden’s First EV Charging Station Goes Online After $7.5 Billion In American EV Investments
Biden’s First EV Charging Station Goes Online After $7.5 Billion In American EV Investments
Despite in investments for the development of in the , not a single charging station had gone live thanks to — until now. The first EV charger paid for by Biden’s Bipartisan deal has come online in Ohio, according to , which marks the operational start of what the...
Sep 12, 2025
Copyright 2023-2025 - www.zzdcar.com All Rights Reserved