Get ready for the most epic payday in corporate history – Elon Musk’s $46Billion Payday At Tesla! The visionary CEO of Tesla, Elon Musk, is on track to receive a staggering $46 billion in compensation for his work at the electric car maker. The package, approved by Tesla shareholders on June 13, 2024, is the largest in history, and it’s got everyone talking.
Here are the juicy details:
- 304 million stock options, worth approximately $46 billion
- Options vest over the next decade, with milestones tied to Tesla’s market value
- Musk must hold onto any shares purchased through the options for at least five years
- Package reapproved by shareholders on June 13, 2024, with 72% of voting shares supporting the deal
But here’s the thing: Elon Musk’s $46Billion Payday is still tied up in court, and it’s unclear when Musk will actually receive the payment. Tesla is appealing a Delaware court’s ruling that struck down the deal earlier this year, and it’s anyone’s guess when the legal drama will end.
Assuming the deal is approved, Musk will receive the payment in tranches over the next decade. The first payout is expected in 2025, with subsequent payments tied to Tesla’s market value milestones.
So, what does this mean for Musk and Tesla? First and foremost, it solidifies Musk’s status as one of the highest-paid CEOs in history. Moreover, it sets a new standard for executive compensation. Consequently, this deal could have far-reaching implications for corporate governance across the business world.
Stay tuned for more updates on this developing story!
Note: The dates and details mentioned in the article are based on publicly available information and may be subject to change.
