Just one bonus like Tesla CEO Elon Musk, an ordinary person can be in the top 30 richest people in the world.

The American billionaire has no shortage of money as he is the richest man in the world, but Tesla shareholders believe that this huge bonus can bring more motivation to Elon Musk and more profits for themselves – Photo: Carscoops

Elon Musk was awarded 1.22 million billion VND

Tesla shareholders have voted to approve a huge bonus for CEO Elon Musk . The reason for this bonus is his achievements with the American electric car brand, which has created a huge source of profit.

Previously, in 2018, 73% of shareholders voted to reward Elon Musk with up to 56 billion USD (1.43 million billion VND).

However, this bonus was rejected by a US judge, because he thought that Tesla’s board of directors did not operate independently enough from CEO Elon Musk. Therefore, the judge was concerned that this was a deliberate “money injection”.

However, Tesla shareholders once again approved the bonus (only this time it was “slightly” lower, totaling $48 billion, equivalent to 1.22 quadrillion VND), and appealed the court’s decision.

According to these people, the huge bonus is intended to “keep Elon Musk”, motivating him to continue contributing to Tesla instead of focusing on other companies like X (former Twitter) or SpaceX.

A net worth of $48 billion at current stock prices would instantly make a person from scratch the 28th richest person in the world, according to Forbes ‘ current rankings .

The above amount of money is said to help the American billionaire maintain his position as the richest person in the world with an estimated total asset of 250 billion USD, when there was a time when he lost it to someone else.

Why does Elon Musk get a huge bonus?

The answer to the reason behind the huge bonus lies in what Elon Musk has done for Tesla.

Elon Musk was given 10 years by shareholders and the board to achieve growth targets. As he achieved each growth target, he would receive a number of Tesla shares. The number increased gradually according to the growth threshold. In 2018, the cumulative number of shares was worth 303 million, equivalent to 12% of the company’s shares that year.

In total, CEO Elon Musk surpassed… 28 goals, including some that seemed “impossible.” There were 12 goals tied to market capitalization, 8 goals tied to Tesla revenue, and 8 goals tied to total income.

The most difficult goal for CEO Elon Musk to overcome was to get the company to a market capitalization of $650 billion, which Tesla achieved in 2020. Tesla’s initial value when those goals were set was $60 billion. That means they had achieved a growth rate of 983%, or nearly 10 times.