Tesla Shareholders Approve Record Compensation Plan
Tesla shareholders have endorsed a record-breaking compensation package for CEO Elon Musk. More than 75% of the votes reportedly favored the proposal, according to sources. In all, the package is worth Rs. 88 lakh crore in Indian currency, or about $1 trillion.
This package will only be issued if Tesla meets certain performance and growth targets over the course of a decade. It shows how confident Tesla is in Musk's leadership and his long-term business strategy.
Comparison with Global CEOs
Compensation of Elon Musk far outpaces that of other major global CEOs. Here is how their pay stacks up:
- Microsoft CEO Satya Nadella: $79.1 million
- Tim Cook, Apple CEO: $74.6 million
- Nvidia CEO Jensen Huang: $49.9 million
- Eli Lilly CEO David Ricks: $29.2 million
- Meta CEO Mark Zuckerberg: $27.2 million
- Visa CEO Ryan McInerney: $26 million
- Alphabet CEO Sundar Pichai: $10.7 million
- Broadcom CEO Hock Tan: $2.6 million
- Amazon CEO Andy Jassy: $1.6 million
- Berkshire Hathaway CEO Warren Buffett: $400,000
Scale of the Compensation
The pay package that was approved for Musk is roughly three times the size of Pakistan's total GDP. It sets a new benchmark in executive compensation and raises global discussions about corporate pay structures and shareholder influence.
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