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Elon Musk is getting PAID.
72% of Tesla (NASDAQ: TSLA) shareholders voted YES to the CEO’s compensation plan.
The deal gives Elon stock options valued at $47 billion – based on Tesla’s recent share price.
Quick background…
In 2018 Tesla 73% shareholders approved an aggressive stock compensation plan for Elon.
Tesla’s market value had to increase from $50 billion to $650 billion for Elon to receive all of the stock options.
Elon achieved 100% of the performance objectives. And he was set to receive all of the agreed upon stock options.
Early this year a Delaware judge intervened and canceled Elon’s stock options grant.
The more recent shareholder vote confirms that Elon must get PAID.
Why it’s important…
Elon is a unique CEO.
Critics argue that he’s distracted by also leading SpaceX, Starlink, The Boring Co., Neuralink, xAI, and X (formerly Twitter).
Tesla is his crown jewel.
Tesla is Elon Musk. And Elon Musk is Tesla.
Tesla’s future value does NOT lie in producing Electric Vehicles.
Tesla’s value lies in artificial intelligence, self-driving cars, and robotics. And shareholders need Elon excited and committed to growing the value of the company.
Elon’s new stock options grant will be restricted for 5-years.
Ian Wyatt