Tesla's Board Proposes $1 Trillion Compensation Plan for Elon Musk Amid Sales Slump
Elon Musk's compensation plan, proposed by Tesla's board, could potentially exceed $1 trillion, sparking debate and concern among shareholders. The plan comes amidst TSLA's fastest sales decline in a decade, raising questions about Elon Musk's leadership and Tesla stock's future. The compensation package, to be voted on by shareholders in November, is contingent on Musk achieving specific milestones over the next decade, including increasing Tesla's market value eightfold, selling one million AI robots, and twelve million vehicles. If all targets are met, Elon Musk could gain up to 12% of Tesla's shares, further solidifying his control as CEO. Analyst Dan Coatsworth has expressed skepticism about the plan, questioning its fairness and the board's decision to reinforce Elon Musk's position amidst performance concerns. Tesla Chair Robyn Denholm, however, has stated that retaining Elon Musk is crucial for the company's future and that the incentive is necessary to achieve these ambitious goals. The proposed compensation plan for Elon Musk, if approved by shareholders, could significantly impact Tesla's leadership and Elon Musk's voting power. It remains to be seen whether these ambitious targets will be met, and how the public and shareholders will react to the potential $1 trillion payout.
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