Tesla's $1 Trillion Pay Package For Elon Musk Has The Internet Talking: 'Goal Is To Be Richest Man On Mars...'

(MENAFN- Live Mint) The possibility of Elon Musk getting a $1 trillion, 10-year pay package to remain Tesla's CEO has the Internet talking, with netizens almost sure that he'll achieve the ambitious goals in time for this payment.

On Friday, the Tesla board approved what it called“A Super Ambitious Incentive Package for a Pioneering, Ambitious and Unique CEO” that sets out lofty earnings and valuation targets. If Musk hits them, the company will award him millions of shares over the next decade.

If shareholders approve, the new pay package could make Musk the world's first trillion-dollar executive and mark a new level of outsized pay in a country already known for extreme compensation. But the payoff is in shares, not cash, and the goals are extreme as well.

Also Read | Analysis-Teslas Super Ambitious $1 trillion deal for Musk could still pass shareholder muster Here's how netizens reacted to the $1 trillion payout:

Social media users claimed that Elon Musk“lives for these challenges” and quipped that he“will be sleeping on the factory floor again”.

“It's earned! He's solving a trillion-dollar problem,” a user said, justifying the proposed pay package.

Another said,“Wow.. Lofty goals to be sure.” While one added,“Sounds like he's being worked to death.”

“If it happens this will be historic and confirmed he's an Alien,” a user quipped.

Another said,“Basically, 'you can be a trillionaire if you make me a millionare first.' I'll take it.”

“It does not appear to me that Musk is motivated by money. Money is a tool to allow him to accomplish real objectives,” a user highlighted.

Also Read | What entails Tesla's $1 trillion pay proposal for CEO Elon Musk?

One netizen asked,“Who would take on this?”“There should be some incremental grade of pay for each increase of these goals, if this pay is all or nothing goals for the pay, it will be an impossible goal to reach,” they added.

“Pay the man!” exclaimed another netizen.

“Elon's new package ties ambition to milestones-smart alignment for long-term growth. Watching closely,” added a user.

However, sure of Musk's success in achieving the lofty targets, users said,“Musk- 'hmm doable'”

“Many people think Elon's goal is to be the richest man on Earth. His goal is actually to be the richest man on Mars,” a user joked.

Another said,“Gonna use that trillion dollars to create a literal baby-making factory.”“Buy moon,” suggested a user.

Also Read | Grok AI tops predictions, Elon Musk calls it 'Best measure of intelligence!'

Elon Musk fans were overjoyed by the news and said,“He is worth every penny and then some.”

“Give it to him!!! You have no idea what new project he will be creating with it, but I know it will not only be much needed by all of us, it will be marvelous!” a fan said.

“Absolutely deserves it! And selflessly, Elon will use his success to lift humanity. Greatest person to ever live,” another added.

Also Read | Elon Musk could become first trillionaire with Tesla's massive pay deal About the 'Super Ambitious Incentive Package'

Tesla said it will hand Elon Musk shares worth as much as 12% of the company in a dozen separate packages if the company meets certain performance targets, including massive increases in car production, share price and operating profit.

To get his first package of shares equivalent to 1% of the company, Musk would have to convince investors in the stock market that Tesla is worth $2 trillion in total, double what they value it today, and also hit several other milestones.

To receive all the shares offered and become the world's first trillion-dollar man, his market value would have to rise to $8.5 trillion, double that of the world's most valuable company now, chipmaker Nvidia .

Among other goals, sales of all Tesla vehicles would eventually also have to reach 20 million, nearly triple its entire sales since it was founded more than two decades ago.

Musk would also have to vastly expand Tesla's robot and robotaxi businesses by selling a million bots and a million driverless cabs. The latter business has only begun to roll out its taxi service and is behind rivals, such as Waymo.

He would also need to remain with Tesla for at least seven and a half years to cash out on any stock, and 10 years to earn the full amount.

(With agency inputs)

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