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Tesla offers Elon Musk a record bonus
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American company Tesla has proposed a new compensation bonus scheme for CEO Elon Musk.
As reported by Bloomberg agency, he could receive an unprecedented $1 trillion.
The company filed a statement with the US Securities and Exchange Commission detailing the new plan. It is designed for 10 years. If its conditions are met, Musk will control 25% of the company's shares.
The main condition is the growth of the company's market value. "In 2018, Elon was required to grow Tesla's value by billions of dollars. In 2025, he is required to grow it by trillions. To be precise: he must create approximately $7.5 trillion in additional value for shareholders to receive the bonus," the document states.
Tesla's value is just over $1 trillion. In August, the company approved another compensation plan according to which Musk could receive a bonus of almost $30 billion. The plan announced on September 5 must be approved by shareholders. In addition, it is possible that courts may hinder its implementation, as has happened before. Musk does not receive a salary for his work at the company; his contribution to its development is paid through bonuses.
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