Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk could collect billions of dollars even if the billionaire fails to miss milestones laid out in the new pay package recently unveiled by the electric vehicle maker’s Board of Directors.
Check out the current price of TSLA here.
What Happened: Musk could collect over $50 billion by hitting some of the easier goals laid out in the package, with Musk netting over $26 billion for hitting two of the board’s targets and helping the company’s stock grow consistently, Reuters reported on Thursday.
Tesla did not immediately respond to Benzinga’s request for comment.
The milestones include delivering over 1 million Tesla vehicles and 1 million Optimus robots, as well as reaching 10 million active FSD subscriptions and 1 million Robotaxis in operation. Reaching all four of these milestones with a valuation of $3.5 trillion would get Musk almost $93 billion, the report said.
Tesla’s Board has urged investors to vote in favor of all the recommendations it laid down ahead of November’s shareholder meeting.
Why It Matters: Tesla recently revised the meaning of the FSD technology as well as moved the on board safety operators in Tesla Robotaxis in Austin to the driver’s seat as it expanded operations to highways. The company also debuted the Optimus robot at a red carpet event earlier this week.
Musk, in a post on the social media platform X, had said that the vote, ahead of the investor’s meeting in November, was not about compensation, but about retaining control over the EV giant.
Tesla also recently revealed affordable trim levels of the Model Y and the Model 3. However, the company has received mixed reactions from experts, with Wedbush Securities’ analyst Dan Ives, a Tesla bull, expressing disappointment at the price point of the new models.
Tesla scores well on Momentum and Growth metrics, while boasting satisfactory Quality, but poor Value. Tesla also offers a favorable price trend in the Short, Medium and Long term. For more such insights, sign up for Benzinga Edge Stock Rankings today!
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