Tesla Offers $1 Trillion To Elon Musk To Unleash His Army Of Robots

Elon Musk could go nan world’s first trillionaire if Tesla shareholders o.k. a caller salary package that was conscionable put guardant by nan company’s board.

Musk would request to meet definite milestones successful bid to person that eye-popping compensation, specified arsenic producing 1 cardinal robotaxis and 1 cardinal humanoid robots, arsenic good arsenic summation Tesla’s valuation by trillions of dollars. Musk, already nan world’s richest man, would ascend to caller heights of financial untouchability if he is capable to execute these goals.

The connection builds connected an interim grant of $29 billion that was announced past month. In total, nan package is worthy astir $975 cardinal based connected maximum payout. And it would springiness Musk much power complete nan company, which he has demanded successful bid to execute his imagination for AI-powered cars and robots.

Musk would request to meet definite milestones successful bid to person that compensation

This isn’t nan first clip that Tesla has tried throwing a bunch of rate astatine Musk to support him focused connected nan company. The institution offered him a salary package worthy much than $50 cardinal successful 2018, but past twelvemonth a Delaware tribunal voided it, arguing that nan woody was flawed and unfair to shareholders and that Musk held undue power complete its composition. Shareholders had voted doubly to approve the hefty compensation, but nan judge still upheld their ruling that blocked it. Tesla has appealed nan decision to nan Delaware Supreme Court.

Now, nan institution is asking shareholders to o.k. this caller award, arguing that Tesla is connected nan cusp of becoming a leader successful AI and robotics, requiring Musk’s dependable manus connected nan helm.

“We judge that Elon’s singular imagination is captious to navigating this captious inflection point,” Tesla committee chair Robyn Denholm wrote successful a missive to shareholders. “We besides admit nan formidable quality of this undertaking and arsenic a result, nan value of having a leader who is not only consenting and tin but eager to meet this challenge.”

The salary package amounts to a immense ballot of assurance astatine a clip erstwhile Musk’s governmental meddling has taken an tremendous toll connected nan electrical car company that is nan root for his immense wealth. Tesla’s income person declined importantly crossed nan globe arsenic rising title from China, arsenic good arsenic Musk’s vocal support for far-right politics, person diminished nan company’s brand. And yet, Tesla’s banal has ever outperformed its reality arsenic an electrical car and renewable power company, which has led immoderate critics to deride it arsenic meme stock.

To unafraid this immense payout, Musk would request to enactment arsenic CEO of Tesla for astatine slightest 7 years, aliases up to 10 years successful bid to person nan afloat amount. During that time, he would request to deploy 1 cardinal robotaxis into commercialized service, arsenic good arsenic 1 cardinal Optimus robots, each while increasing nan company’s marketplace capitalization by trillions of dollars and creating “nearly $7.5 trillion successful worth for shareholders.” Musk and his relative Kimbal, some committee members, recused themselves from nan proposal, according to the filing.

After years of growth, nan abrupt reversal successful Tesla’s luck has near galore investors and supporters pinch whiplash. As Musk slid deeper into politics, investors urged him to enactment focused connected Tesla and its costly — and questionable — task to build much self-driving cars and humanoid robots. The institution rolled retired its first robotaxi work successful Austin, Texas, this summertime — though nan service fell short of Musk’s earlier predictions. The company’s only caller merchandise since 2020, nan Cybertruck, has wide been considered a flop. And title from bequest automakers, particularly those successful China, has been sapping Tesla’s resources.

Musk is presently Tesla’s largest shareholder, pinch a 13 percent liking successful nan company. But nan CEO has said that he wants much power complete nan institution successful bid to person much sway complete its ngo — which this plans intends to produce.

“That is simply a awesome interest for me, arsenic I’ve mentioned successful nan past, and I dream that is addressed astatine nan upcoming shareholders meeting,” Musk said successful a caller net call, successful consequence to a mobility astir his voting stake. “I deliberation my power of Tesla should beryllium capable to guarantee that it goes successful a bully direction, but not truthful overmuch power that I can’t beryllium thrown retired if I spell crazy.”