Elon Musk Danced On Stage After Receiving 74 Trillion From Tesla Elon Musk will receive 25 percent of his net worth from electric vehicle maker Tesla. With the approval of Tesla’s annual general meeting held last Thursday, Musk will receive 56 billion dollars (about 74 billion, 67 billion, 50 million, and 48 million rupees).
In 2018, Musk signed an agreement with Tesla to receive a performance-based compensation package. Since then, Musk has been receiving a salary, cash bonus, and compensation package without any equity from Tesla.
Under this, when the company reaches a certain height, Musk gets a stock equal to one percent of the total value of Tesla. Based on that, he was scheduled to receive 303 million shares from Tesla, which is currently worth around $56 billion.
Musk will receive Tesla stock rather than money, so the amount received will vary. In this way, Tesla has informed Musk through its social network X that the proposal to give Musk a performance-based compensation package has been passed.
Although the General Assembly supported this, the deal is currently in limbo due to legal hurdles.
Last January, a judge in the American state of Delaware canceled the deal. If the court’s decision is overturned, Musk’s salary package is said to be 300 times higher than the salary of the highest-paid CEO in the United States and 3,000 times higher than the average CEO salary.