The head of Tesla’s Elon Musk refers to is not a regular salary, but benefits, if the group reached certain targets. Now it seems to be so far.

The U.S. electric car maker Tesla has scored in front of the Corona-crisis good gains. For Tesla-in-chief Elon Musk is a special compensation plan is . Now, the Board of Directors reported that a had been reached “important threshold” .

Palo Alto Elon Musk has probably little reason to complain. Although the chief of electric car group Tesla had to include in the Corona-crisis* , recently in Trouble with the US agencies -he wanted to, contrary to the pandemic-requirements production in California, in the Tesla factory again. But at the beginning of may he has to get with the canadian singer Claire Elise Boucher, aka Grimes a child. And now he can look forward to a big stick.

The Tesla founder is no salary to pay, but if successful, additional shares of his company. “2019 was a record year,” said on Thursday the Board of Directors: Musk receives access to a package of shares, which would give him on paper and just under $ 775 million (the equivalent of about 700 million euros), profit. The founder of 18.5 percent holding in the company already.

More about Musk‘ Parenting in

Tesla chief Elon Muska: Mega-compensation plan of about $ 775 million

The compensation for the chief had been settled in 2018: Musk gets over a period of ten years 20.3 million Tesla shares for his work, divided into packages . He receives this packet, and if the exchange value , production , shipment , sales and profit </strong exceed certain Thresholds.

In a communication to the U.S. securities and exchange Commission, the Board of Directors informed now, the first threshold is reached, Musk receive a first packet with 1.69 million shares. This is a percentage of a percent in the company.

The founder can buy the 1,69 million shares in 2018, the agreed price of 350,02 dollars a piece – he would sell them again, the benefits would be considerable: On Thursday, Tesla shares were traded on the Wall Street in New York for 805,81 dollars. Thus, the profit would be 774,84 of millions of dollars. In the notice to the stock exchange regulator, it is, but more, Musk has to hold the shares for at least five years.

remuneration for Tesla founder Elon Musk: “Important threshold” to be reached.

In the compensation agreement are defined twelve Sleepers, the Tesla is supposed to achieve. In the year 2028, about the stock-exchange value at 650 billion dollars. Currently, Tesla has reached the “critical threshold” of $ 20 billion in annual sales and $ 100 billion stock market value, as the Board stressed in the Letter to the sec.

Musk is also the founder of the private space travel company SpaceX . On Wednesday, a Mission should launch to the International space station, ISS ; it was postponed due to bad weather on Saturday.

dpa/AFP/frs

*Merkur.de is part of the nationwide Ippen-Digital editors network.

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