Musk’s $1T pay package is full of watered-down versions of his own broken promises

Tesla has proposed a new $ 1 trillion dollar compensation package for his chief executive officer Elon Mask and many of the criteria that he needs to hit is the waterlogging version of the promise to spend the year about the company.

This is not a picture of the company’s board of directors of the company Annual proxy statementWhere they have released the proposed pay package. Instead, the board focuses on how it plans to create a “most valuable organization in history”.

To be sure, if Tesla targets this deal with this deal, it will look like a separate company at the end of the 10 -year period. It does not change the fact that the milestone that the company is asking to target musk is less ambitious than the goals described in their own.

Although the unprecedented pay package still needs to be approved by shareholders at a meeting in November, the company’s view is easy to vote for “yes”. Previous votes on the compensation of the mask have been greatly approved by Tesla shareholders.

Keeping this in mind, let’s take a look at what the musk needs to achieve to pay the full payment.

20 million cars … total

Wicker Expenditure Year Claimed Tesla will be able to create 20 million electric vehicles Every year It was back by 2030 when he and his company were still promising to rise at the rate of 50% every year.

But as the sales growth was suspended, Tesla went away from those promises and then In the opposite of 2024The The agency then the target of 20 million-year-olds from its impact report Last yearAnd stopped making a planned factory in Mexico Could increase productionThe

Now, the first “product target” of Tesla’s board is the one that was to achieve the way to be trillioner for mask is to supply 20 million vehicles TotalThe Tesla has already sold eight million cars till today, and even with sales slamping 2 million every year is shy.

The new pay package is being set up during 10 years, meaning that the target is 20 million every year from 20 million EV to 2035.

One million robotaxis*

Tesla’s one of the notorious and offensive promises about Kasturi about Tesla came in 2019, when he claimed that the company would remain One million robotaxis on the street in 2020The It is now 2025, and Tesla has just begun to test a robotuxi service in Austin, Texas, which contains about 20 or 30 cars Including the protection driver on the boardThe

To access the full proposed salary package, Tesla Kasturi is asking to understand a modified version of that promise, because the target of another product listed is “Commercial operations contain 1 million robotaxis”.

This is a goal with warning. The fine print shows that Tesla is only there to “be on the average sum of daily” of a million robotaxis “commercially handled” [Tesla] During the three months of transport service as part of the service. ”

Tesla defines “Robotuxi” as a Tesla vehicle, in which it is not limited to developing motive “Cybercab”, which is using the company’s full self-driving software to ride to people.

These include customer -owned vehicles, which the musk has long promised but has never been distributed. He claimed that Tesla could flip a digital switch and make existing vehicles completely autonomous, and owners could add and subtract these vehicles to a larger robotaxi fleet.

But the musk has ever said Many of the current on the street do not have the hardware required for many To be an ex, and the company has not yet been able to display later. Regardless, the musk now has an even loose time line to try both things.

A million “bot”?

The musk has found that Tesla’s future is a humanoid robot that is developing, known as Optimus. Just this week he claimed that it could make as of 80% of the company’s future revenue.

When he focuses on the growing optimus, the musk promised some beautiful weeds on what the future would look like. One of his main claims is that Tesla will make a million optimus bot Every year By In the early 2029The

And nevertheless, the Tesla Board is just as part of the proposed compensation plan to supply the musk to only one million “bot”. Tesla “Bots” defines “as a robot or other physical product that is used by the company or using artificial intelligence produced on behalf of the company” – though the company’s vehicles are not calculated.

Directors agree that Optimus’ is likely to be the best sales center of Tesla “and they say it is a” clear example of how to benefit all humanity “.

However, the board also mentions that “commercialization plan” for Optimus “is still in development” and the musk is now up to 2035 to reach a million markings.

Everything else

The fourth and final product target musk must be achieved to achieve 10 million active subscriptions in Tesla’s full self-driving (FSD) software. This is reasonably the target of the most ambitious product. The company does not say how many current owners have paid for FSD, though executives have recently said Adoption rate Is in the “teen”. After all, this means that less than a million to several million Tesla vehicles are installed.

Everything on Tesla’s board is asking the musk to be tied to money. In the end, Tesla needs to assess $ 8.5 trillion to unlock the full price of the musk compensation package and become a trilliona itself.

The musk had already great designs to perform something similar. He often claimed that Tesla could one day become more valuable than Apple and Saudi Armco to meet. In their current evaluation, these two companies have a combined value of about 5.5 trillion. However, early this year, the CEO claimed that Tesla could be more valuable than that Combine the next five most valuable companies – which meant that he had aimed at around $ 15 trillion.

In addition to the goal of ruining Tesla’s evaluation, the earning company’s income is mainly said to raise $ 1 billion a year – a huge personality than earning about $ 1 billion last year.

To the end, the Tesla Board has sought two significant assurances from the musk to unlock the full value of the compensation package. One is how he will be successful as Tesla’s CEO (and the plan locks him in the company for at least .5.5 years) he must work with the company to develop a plan for how successful.

The other, to be buried in a footnote, it is Tesla “assured that the involvement of the musk with the political field will flow on time.”

Taken overall, it is a complicated deal with the idea of ​​a pi-in-the-sky in the next decade where Tesla can be led by the musk. The same was said about the previous compensation agreement that Tesla hit with the musk Back to 2018And nevertheless, the company has hit all those apparently the target. (The reward of the musk was in the end Washed by the Delwear Channel Court.)

Nevertheless, it is not hard to notice how these new goals will be present by trying to bring back its CEO promise to the Earth.