Elon Musk’s $1tn pay deal approved by Tesla shareholders
Tesla boss Elon Musk has had a record-breaking pay package that could be worth nearly $1tn (£760bn) approved by shareholders.
The unprecedented deal was approved by 75% of votes and drew huge applause from the audience at the firm’s annual general meeting on Thursday.
Musk, who is already the world’s richest man, must drastically raise the electric car firm’s market value over 10 years. If he does this and meets various targets, he will be rewarded with hundreds of millions of new shares.
The scale of the potential payout has drawn criticism, but the Tesla board argued that Musk might leave the company if it was not approved – and that it could not afford to lose him.
Doesn’t this all kind reek of desperation?
Firstly, it’s an enormous jump in sales and growth he will be required to make to get that pay.
Secondly, isn’t it a bit desperate to need to offer your drug addled super genius spectrum super villain nerd a Trillion dollars in the vain hope of keeping his attention on the project you are all heavily invested in?
It’s so desperate.
It’s the kind of Hail Mary you make just before the AI bubble pops.
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Martyn never feels desperate, up te pou with Jack, no, never.