Tesla Shareholders to Decide on Elon Musk's $1 Trillion Pay Deal
Tesla shareholders will vote on Elon Musk's $1 trillion pay package, which is contingent on achieving specific performance goals. The deal includes 12 tranches tied to Tesla's market cap reaching $8.5 trillion and operational milestones like delivering 20 million vehicles and deploying one million robotaxis. If successful, Musk's stake could increase from 13% to 25%. Tesla shares rose 7.36% to $395.94, though they remain down 2% year-to-date.
The package ties Musk's rewards to performance goals. It includes 12 tranches that depend on Tesla reaching a market cap of $8.5 trillion, up from its current value of about $1.1 trillion. It also requires Tesla to hit operational milestones, such as delivering 20 million vehicles, putting one million robotaxis on the road, and building one million humanoid robots over the next decade. If all targets are met, Musk's stake could rise from 13% to about 25%.
Meanwhile, Tesla shares closed up 7.36% on Friday at $395.94, although the stock is still down about 2% year-to-date.
