Elon Musk lines up $55bn payday – the world’s biggest bonus

Elon Musk lines up $55bn payday – the world’s biggest bonus

Another great share by Tony Timm – Thanks!!

Musk will become planet’s richest man if he turns Tesla into a $650bn business in a decade

Elon Musk, the founder and chief executive of electric car company Tesla, would smash all pay records and become the richest man in the world if an extraordinarily ambitious new incentive scheme pays out.
The 46-year-old entrepreneur, who is already a multi-billionaire, has agreed to work unpaid for the next 10 years – after which he would collect an unprecedented $55.8bn (£40bn) bonus if builds the 14-year-old business into a $650bn company within a decade.
If Musk achieves the hugely ambitious target it would be by far the biggest ever executive windfall.

“Elon will receive no guaranteed compensation of any kind – no salary, no cash bonuses, and no equity that vests by the passage of time,” the company said of the new pay plan. “Instead, Elon’s only compensation will be a 100% at-risk performance award, which ensures that he will be compensated only if Tesla and all of our stockholders do extraordinarily well.

“For Elon to fully vest in the award, Tesla’s market cap must increase to $650bn.”

Read more at https://www.theguardian.com/technology/2018/jan/23/elon-musk-aiming-for-worlds-biggest-bonus-40bn

2020-04-03T13:35:40+02:00 Jan 31st, 2018|Entrepreneurship, Finance, Recources, Syllabus Topics|