Tesla will leave Elon without a paycheck

Tesla will leave Elon without a paycheck

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Despite the fact that 2017 was quite difficult for Tesla, CEO Elon Musk was able to capitalize in the 12 months to almost a hundred million dollars. According to Bloomberg, of which only 46 thousand dollars were on salary, while the rest of the money was paid to him as bonuses. This year the Board of Directors of the company proposed to deprive him of his wages and make the Mask a one-time payment upon achieving certain results.

The new development plan, designed for ten years, includes a number of innovations that will allow the company to significantly reduce costs and begin, finally, to bring a stable income. The Board of Directors of the company proposed Mask in lieu of wages to the tranches in the amount of one percent of the value of the Tesla stock. All are invited to make twelve of such payments based on indicators, which the company must achieve under the guidance of the Mask.

To get the first tranche, the Mask will increase the company’s capitalization to one hundred billion dollars. Every following tranche will be paid after the capitalization will increase to fifty billion. All twelve payments, Musk will be able to, if you will bring the capitalization of Tesla up to $ 650 million. The plan has not yet been approved — this will engage the company’s shareholders. Elon Musk voting will not accept.

Last year, Musk was among the ten most highly paid top managers, and his condition is currently estimated to be approximately $ 21 billion. It all looks very impressive, especially given the loss of 671 million dollars — with such indicators Tesla celebrated the beginning of a new, 2018. The financial problems were caused by the failure of production plans for Model 3 and disruptions in the supply of components.