Tesla has proposed a new salary package for Allen Musk. With its implementation, he can become the first trillionaire in the world. For this, Tesla’s market evaluation will have to be increased from $ 1.1 trillion to $ 8.5 trillion.
Elon musk: The board of Electric car -making American company Tesla on Friday proposed a new salary package for CEO Alan Musk. With its implementation, Musk can become the first trillionaire in the world. The condition is so that he fulfills the performance goals.
This package is fully composed of Tesla’s shares. It is yet to be approved by shareholders. Voting for this will be held on 6 November. According to The New York Times report, Tesla’s board stated that the scheme is associated with the ability to convert Musk’s company into technology and AI-operated powerhouse. Musk is expected to give its company a large stake in areas such as Autonomous Systems, Robotics and AI products.
What target did Musk get for 1 trillion dollar salary package?
Tesla’s board has introduced a plan to give a salary package of 1 trillion dollars (Rs 88.08 lakh crore) to Musk. According to securities filing, Musk will have to increase Tesla’s market evaluation by eight times in the next decade to get all the money told in the package. Tesla’s market evaluation is currently $ 1.1 trillion. It has to be increased to $ 8.5 trillion.
This will require the company’s current $ 1.1 trillion to jump from market capitalization. He will have to get almost double the value of the world’s most valuable company Nvidia.
Musk’s grip on business empire will be strong
According to a CNN report, Tesla’s proxy statement also included a shareholder proposal for the company to take a share in the Artificial Intelligence XAI of Musk in private. Such a step will not only make Tesla’s AI ambitions deeper, but will also strengthen Musk’s grip on its vast business empire.
Musk’s assets can be 900 billion dollars
If this scheme is successful, it can increase the assets worth Mask by about 900 billion (Rs 79.35 lakh crore) in assets worth $ 400 billion (Rs 35.26 lakh crore). This will be the largest executive compensation deal in corporate history.
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Earlier this year, Tesla gave Musk an interim package of banned stock of $ 29 billion. It was designed to secure their leadership by at least 2030. The company is accelerating its AI-first strategy.