Tesla Grants Elon Musk US$2.6 bn Award

Published By : 24 Jan 2018 | Published By : QYRESEARCH

Tesla has granted its billionaire founder, Elon Musk, a US$2.6 bn award, the biggest-ever of its kind, highlighting the firm’s enormous ambitions and how intimately its future success is connected to Musk. If it remain totally vested over the next ten years, the stock options will net him around US$55.8 bn by the end of the decade. However, along the path, nothing would be assured, cash bonuses or zero salary. The award emphasizes on a plan for the company to become one of the biggest enterprises of the world, which would make its already billionaire founder possibly the richest individual on the Earth in the process; however, without a detailed roadmap, as one that was provided with his previous award, it is going to be difficult.

Steven Hall, the managing director of Steven Hall & Partners, a compensation consulting firm, stated that it is breathtaking, both, in terms of size and in performance needed to earn it. “As everything in which Musk is involved, whether it is creating an organization from scratch or rolling out satellites, this is beyond expectation,” he added. The award that has been granted on January 21, 2018, is a way for the company to put the questions about the long-term future of Musk with the company to rest, since the award relies on him remaining the CEO, or EC and CPO. The plan leaves open the possibility for the firm to appoint another CEO who would be reporting to Musk.

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