Tesla CEO Elon Musk May Get No Salary For 10 Years

Posted: Jan 23 2018, 10:06am CST | by , in News | Cars & Vehicles

 
Tesla CEO Elon Musk may Get No Salary for 10 Years
Credit: Getty Images
  • Elon Musk Will Get No Salary, No Cash Bonuses and No Equity Unless Tesla Hits Milestones

Elon Musk may Have to Forgo his Big Fat Paycheck unless Tesla Motors Delivers. Musk Will Continue Leading Tesla Over the Long-Term.

The company Tesla Motors will not be dispensing any financial perks to its CEO, Elon Musk unless the annual progress report shows some signs of improvement. Stock and operational successes will have to be seen before the CEO gets to take home a hefty salary.

Tesla Motors is taking this decision in the best interests of the company and its administration not to mention staff members. While Musk will have to do without the nominal salary, he will continue as the founder and CEO of the company. Later on, another CEO may be hired who will also directly report to Elon Musk.

All this was decided upon after the company missed a few golden opportunities. Meeting the production goals of its Model 3 sedan was the biggest failure. Tesla Motors seems to have floundered down that path which led to a cul-de-sac. It was a blind alley when seen from a pecuniary point of view.

Procrastination in matters of manufacturing as well as the high cash usage rate have contributed to the worried bankers at Wall Street standing up and taking notice of the situation at Tesla Motors.

Musk’s constant efforts to make the company a Great American Success Story may have ultimately backfired since the production drive petered out before its time.

For now, with mutual consent, Musk’s only reward will be a performance award instead of any money-based benefits. First of all, he has to prove himself and than and only than can he be worthy of a fat salary. The target for the days which lie ahead is $650 billion.

This is not exactly chicken feed. It is a huge amount of cold hard cash that will have to be earned with blood, sweat and tears. Currently, Tesla Motors has a total value of $60 billion which is a infinitesimal amount of this ultimate goal.

This story may contain affiliate links.

Loading...

Find rare products online! Get the free Tracker App now.


Download the free Tracker app now to get in-stock alerts on Pomsies, Oculus Go, SNES Classic and more.

Latest News

Comments

The Author


M. Affan covers the hottest news that captivate the web today.

 

 

Advertisement

comments powered by Disqus