Tesla shareholders approve big pay for CEO Musk
On June 6th, the American electric car company Tesla held its general meeting of shareholders.
At this meeting, it was decided to give CEO Elon Musk a very large compensation.
Musk could become the richest person in the world
According to Tesla, more than 75% of shareholders approved this compensation
This reward does not include Tesla stock that Musk already owns.
When the results were announced, the venue was filled with loud applause and cheers.
Musk said, "I'm very grateful."
The compensation plan gives Musk 423.7 million Tesla shares over the next 10 years.
However, several conditions must be met, including Tesla's company value being $8.5 trillion.
If all conditions are met, Musk could receive a reward of around $1 trillion.
Currently, Mr. Musk's net worth is approximately $473 billion.
He not only has Tesla, but also SpaceX and xAI
If this compensation proposal doesn't pass, Musk might quit as Tesla's CEO.
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