Elon Musk wins record-breaking Tesla pay deal from shareholders

Elon Musk, the CEO of Tesla, has secured a record-breaking pay deal from shareholders that could potentially earn him billions of dollars in stock options. The deal, which was approved by Tesla shareholders, is based on Musk’s ability to significantly increase the company’s market value over the next decade.

Under the terms of the deal, Musk will receive stock options worth up to $55.8 billion if Tesla’s market value reaches $650 billion by 2028. This would make it the largest pay deal ever awarded to a CEO, surpassing the previous record of $4.6 billion set by Tim Cook of Apple.

Musk’s pay deal is tied to ambitious targets for Tesla’s market value, with the company currently valued at around $55 billion. In order for Musk to receive the full payout, Tesla’s market value would need to increase by more than tenfold in the next decade.

While some shareholders have expressed concerns about the size of the pay deal, others believe that it is a necessary incentive to ensure that Musk remains committed to leading Tesla and driving its growth. Musk has already achieved significant success with Tesla, turning the company into a leading player in the electric vehicle market and pioneering new technologies in the automotive industry.

Musk’s leadership has been instrumental in Tesla’s success, and his vision for the company’s future is seen as crucial to its long-term growth. By tying his pay to the company’s performance, shareholders are banking on Musk’s ability to continue to drive Tesla forward and deliver on its ambitious goals.

Overall, the record-breaking pay deal for Elon Musk reflects the confidence that shareholders have in his ability to lead Tesla to even greater heights in the coming years. Musk’s vision and drive have already transformed the automotive industry, and with this new pay deal, he is poised to continue pushing the boundaries of what is possible for Tesla and the electric vehicle market as a whole.

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