Sunday, January 24, 2021
News No salary for Elon Musk for the next 10 years

No salary for Elon Musk for the next 10 years

Tesla’s founder and CEO, Elon Musk, will not receive a salary for the next 10 years under a new compensation plan that should be approved by shareholders in March. That said, he could still end up being the richest man on the planet at the end of those 10 years.

That will depend on whether or not Tesla is profitable. Indeed, Tesla’s new plan for its CEO is to base his salary on the profitability of the company. More concretely, Musk will have 12 financial goals to achieve, and his salary will be based on those achievements.

According to preliminary reports, meeting every milestone would net Musk a cool $ 55.8 billion over 10 years which could earn him the title of the richest man on earth. This title currently belongs to Bill Gates who has a fortune of more than 80 billion dollars.

Musk’s compensation has been based on the same goal system since 2012, but the most recent ones included items such as bringing the Tesla Model X to market. The CEO’s new goals for the next decade would all be financial.

Tesla posted losses of $ 619 million between July and September 2017.

Trending Now

Ford Not Happy With Ongoing Product Photo Leaks: Report

Bronco Sport, Maverick all leaked in photos well before launch Leaked memo details Ford's concerns with leaks A new report says that Ford Motor...

2021 Dodge Durango SRT Hellcat Nearly Sold Out

All orders taken, some dealers have allocated vehicles 710 hp SUV does everything fast What's quicker than the 700+ hp supercharged Dodge Durango SRT...

Completely Stock McLaren 765LT Destroys ¼ Run In 9.41 Seconds

With stickier tires and 100-octane fuel, it manages 9.3s. One of the runs produces a 0-60mph time of 2.1 seconds. The McLaren 765LT...

Top 10 Vehicles Owners Keep The Longest

On average, owners keep their vehicles for six to seven years. In some cases, today’s cars are very reliable. New cars and SUVs are...

AJAC Announces 2021 Category Finalists For Car And Utility Vehicles Of The Year

Finalists selected from over 250 eligible vehicles. There are eight categories overall. Category winners will be announced on February 20, 2021. The Automobile Journalists...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.