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Elon Musk the trillionaire? Debate over his Tesla pay package rages
How Musk can get $1 trillion Musk won't get necessarily get all of that money, or even a cent of it, if the package is approved. He first has to meet several operational and financial targets.
To get the full pay, for instance, he has to deliver to the car market 20 million Teslas over 10 years, more than double the number he has churned out over the past dozen years. He also has to massively increase the market value of the company and its operating profits and deliver one million robots, from zero today.
If he falls short of the biggest goals, though, the package could still hand him plenty of money.
Musk will get $50 billion in additional Tesla shares, for example, if he increases the company's market value by 80%, something he did just this past year, as well as doubling vehicle sales and tripling operating earnings – or hitting any other two of a dozen operational targets.
Musk v RockefellerMusk is already the richest man in the world with a net worth of $493 billion, according to Forbes magazine, and well ahead of some of the wealthiest of years past.
He's worth more than two Cornelius Vanderbilts, the shipping and railroad magnate of the 19th Century whose inflation-adjusted wealth hit $200 billion or so at its peak. The steel giant, Andrew Carnegie, was once worth $300 billion, according to the Carnegie Corp., well below Musk's wealth, too.
Musk is still trailing John D. Rockefeller, but he's closing in fast. The railroad titan hit peak inflation-adjusted wealth of $630 billion in 1913, according to Guinness World Records.
journalgazette.net |
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