Jakarta, hitclubapk3 Indonesia
—
Shareholders
Tesla
approve the package
salary
CEO
Elon Musk
worth US$1 trillion or the equivalent of IDR 16,711 trillion (assuming an exchange rate of IDR 16,714 per US dollar).
As many as 75 percent of Tesla shareholders passed the proposed jumbo salary package at the company’s annual general meeting of shareholders.The vote does not include the 15 percent stake in the company that Musk already owns.
With this fantastic salary, Musk, who is now the richest person in the world, has increased his title as the world’s first trillionaire.
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“I really appreciate it,” Musk said after the meeting results were announced, quoted
hitclubapk3 Business,
Friday (7/11).
In his remarks to shareholders, Musk talked more about the robot, which is not yet on sale, than about the company’s cars.Musk says robots will be bigger than the company’s car business, or even any other business.
“I think this is going to be the biggest product of all time by far. So, bigger than cellphones, bigger than anything. I think the way to imagine it is that every human being on Earth wants to have their own R2D2 or C3PO,” he said.
He even predicted that Tesla robots could replace surgeons, end global poverty, and reshape the global economic order.These robots can be produced for U$ 20 thousand or IDR 334 million per unit.
However, these products and concepts are still in the development stage and have not yet been sold.This means that even though the salary package has been approved, Musk will not necessarily get the full hundreds of millions of shares.He needs to solve the company’s current problems, as well as fulfill the big promises he has made for the next 10 years.
The Tesla boss actually does not receive his salary in cash.The approved salary package is in the form of a share grant which will increase Musk’s share ownership by 423.7 million shares over the next 10 years.
The projection is that the number of shares Musk will receive in his salary package will reach US$1 trillion.If calculated, the owner of social media
Of course, there is a big target that Musk must achieve with that jumbo salary.Shareholders believe that only Musk can realize the company’s ambition to become a giant in artificial intelligence, humanoid robots and robotaxi services.
If Musk meets all targets within 10 years, Tesla’s value is projected to soar to US$8.5 trillion or the equivalent of IDR 142,035 trillion.
Musk previously signaled he could focus more on his other companies, such as SpaceX, xAI and Neuralink, if this compensation package was not approved.
Tesla Board Chair Robyn Denholm also continues to remind investors of the big risks if Musk leaves.
“Without Elon, Tesla could lose significant value,” Denholm wrote in a letter to shareholders in October.
However, some corporate governance experts believe that such threats should not make the board give up so easily.
“It’s like he’s threatening himself, ‘Give me $1 trillion. The board’s job is not just to nod every time the CEO asks for something,” said Gautam Mukunda of the Yale School of Management.
Critics say Tesla’s board is now in a difficult position because the company relies heavily on Musk, but also has no clear plan if he leaves.
Even though it has received criticism, there are also those who believe that this package is actually in line with investors’ interests.The reason is that Musk will only receive this large compensation if Tesla’s value soars far in the future.
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(pta)
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