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Elon Musk To Stay At Tesla For Another Decade (arstechnica.com)
Thelasko writes: "On Tuesday, Tesla's board announced that it had convinced Musk to stay at the helm for another decade with a truly gargantuan performance-based pay package," reports Ars Technica. The pay package is in a series of 12 milestones based on market capitalization.
[The report notes the possibility that Musk could get nothing for a decade's work as Tesla's CEO if the company's stock never rises above $100 billion. However, Musk will get awarded with $1 billion -- 1 percent of the company's stock -- if the stock reaches a value of $100 billion and the company either achieves revenues of $20 billion or earnings of $1.5 billion.] "If the stock rises to $150 billion (and Musk reaches another revenue or profit target), Musk gets another 1 percent of the stock, which will be worth $1.5 billion," reports Ars. "That pattern continues in $50 billion increments until Tesla's stock rises above $650 billion -- at which point Musk will get a stock award worth $6.5 billion. Musk's stock awards will total $45 billion if he hits all 12 milestones."
I guess Musk will have to wait to move to Mars until 2028...
[The report notes the possibility that Musk could get nothing for a decade's work as Tesla's CEO if the company's stock never rises above $100 billion. However, Musk will get awarded with $1 billion -- 1 percent of the company's stock -- if the stock reaches a value of $100 billion and the company either achieves revenues of $20 billion or earnings of $1.5 billion.] "If the stock rises to $150 billion (and Musk reaches another revenue or profit target), Musk gets another 1 percent of the stock, which will be worth $1.5 billion," reports Ars. "That pattern continues in $50 billion increments until Tesla's stock rises above $650 billion -- at which point Musk will get a stock award worth $6.5 billion. Musk's stock awards will total $45 billion if he hits all 12 milestones."
I guess Musk will have to wait to move to Mars until 2028...
When each and everyone of your senators and congress people is basically a lobbyist for the corporations he has "strong ties" to (and came from, before) (and gets hired at, after) (and meets with all the time, to discuss plans) ... but the same thing doesn't happen to whatever groups we consider ourselves part of (Like the group of people who give a shit about human rights, or anything besides profit for profit's sake.) ... then there is no such thing as a US government in any sense that you and I mean.
I'm not saying that corporations, like any organization, can't represent their interests. I'm saying that that they have taken away our right to represent our interests. (Aaand cue me promptly getting downmodded into oblivion, for siding with those that do said modding.)
But yeah, if you want to, you can call a corporate (or whatever) oligarchy a "government" ... and call a dictatorship a "government" too. And I would disagree, on the grounds, that joint-venture of human stockman is a much more appropriate term.
Interesting pay for a company that isn't making any money (and actually losing it).
It'll die if the subsidies stop.
His true pay is the increase in value of his 27% stake in the company. Tesla's market cap today is $59.29B. So, Musk's portion of that is about $16B. If the market cap hits $100B, his 27% will be $11B more valuable. A $1B award on top of that $11B gain hardly even qualifies as icing on the cake.
I wonder how motivational it is at that stage anyway, if he's already got $16B he could eat three star Michelin dinners and ride limos and private jets to five star resorts the rest of his life without making a dent in it. It's a bit like trying to give criminals fourteen consecutive life sentences and pretending it's more than one.
Live today, because you never know what tomorrow brings