I would like to see Telsa and Musk burn but I wish this was reported more accurately. He could get a lot, but only if he delivers:
Under the plan, Musk could receive approximately 423.7 million Tesla shares in 12 separate tranches, each contingent on achieving milestones such as the delivery of 20 million electric vehicles, the deployment of 1 million robotaxis, and reaching $400 billion in EBITDA and an $8.5 trillion market cap
I got through about ten news articles before I got to a reasonably descriptive one:
It describes the 12 milestones needed to unlock the each payment:
For the first milestone the market cap of the company needs to hit 2 trillion (and hit one of five other goals) and its currently at about 1.5 trillion. So by my understanding, if people boycott he doesn’t get the packet. The 7th milestone requires the market cap to reach the market cap that Nvidia currently has (and I presume there is another 1 of 5 goal condition). The 12th milestone, required to get the amount in the article headline, requires the company to reach a valuation thats 150% of Nvidia’s current market cap (and I presume there is another 1 of 5 goal condition).
I agree the amount is preposterous, but I’d argue so are these goals, and so is the simplicity of the reporting.
I would like to see Telsa and Musk burn but I wish this was reported more accurately. He could get a lot, but only if he delivers:
I got through about ten news articles before I got to a reasonably descriptive one:
https://www.wsj.com/business/autos/the-hurdles-elon-musk-must-clear-to-unlock-1-trillion-in-tesla-pay-bcdcf088
It describes the 12 milestones needed to unlock the each payment:
For the first milestone the market cap of the company needs to hit 2 trillion (and hit one of five other goals) and its currently at about 1.5 trillion. So by my understanding, if people boycott he doesn’t get the packet. The 7th milestone requires the market cap to reach the market cap that Nvidia currently has (and I presume there is another 1 of 5 goal condition). The 12th milestone, required to get the amount in the article headline, requires the company to reach a valuation thats 150% of Nvidia’s current market cap (and I presume there is another 1 of 5 goal condition).
I agree the amount is preposterous, but I’d argue so are these goals, and so is the simplicity of the reporting.