Last updated on May 1st, 2023 at 07:51 pm
Tesla CEO owns 18.5% of the company
Tesla paid its CEO, Elon Musk, the first of twelve performance-related awards. A document filed with the Securities and Exchange Commission said that Musk earned 1.7 million shares of Tesla. At the current price, it is $ 775 million.
Musk does not receive a salary, but he owns 18.5% of the company. In order to receive rewards based on results, he needs to demonstrate pre-agreed indicators. The first of these is to maintain Tesla’s market capitalization of $ 100 billion for 30 days in absolute terms and for six months as a moving average. The automaker was also expected to receive $ 20 billion in revenue over the past four quarters.
Tesla shareholders approved a compensation plan in 2018.