Elon Musk is Worth 2.6 billion Compensation Package! Let's face it. Elon Musk is the Go To Person on Electric Cars. He has turned Tesla into the Mercedes of Electric Car Companies.

Tesla Investors Head to the Polls on Musk's $2.6 Billion Pay Plan

Is Elon Musk worth a $2.6 billion compensation package? Tesla Inc.'s shareholders will answer that question Wednesday, as the board seeks their approval to give Chief Executive Officer Musk an unprecedented 10-figure award of stock options. The package-arguably the largest-ever of its kind-underscores the company's outsize ambitions and how intimately connected its future success is to Musk.

From article, (Votes on the compensation plan will be cast at a special shareholder meeting in Fremont, California, at 9 a.m. local time. The board needs support from investors holding a majority of the shares—not counting those owned by Musk and his brother Kimbal, who’s a Tesla director—to make the award. Proxy advisory firms Institutional Shareholder Services Inc. and Glass Lewis & Co. have urged investors to vote against the package, while large shareholders Baillie Gifford & Co. and T. Rowe Price Group Inc. have signaled they're likely to support it.

 Under the proposed terms, Musk would earn one-12th of the options every time Tesla hits a pair of goals: one tied to its market value and the other linked to either revenue or earnings excluding certain charges. For Musk to get all the options, Tesla would have to become worth $650 billion—more than Facebook Inc.—and produce more revenue than Procter & Gamble Co.

Tesla has said in regulatory filings that Musk’s award could yield him more than $50 billion if all goals are achieved. That’s an astronomical sum, compared to what other U.S. executives make. Still, Musk will reap gains only if shareholders do, too. Some large investors have said the package aligns with their interests, signaling they don’t mind if Musk gets wealthier, as long as they also see big returns.

It’s unlikely Tesla could hit the top market value threshold of $650 billion solely by selling electric cars. As a result, the award indicates that Musk has other ideas for the company, including transforming energy storage through utility-grade applications and the kinds of future-of-mobility plans outlined in his Master Plan, Part Deux.

Musk is also the CEO of Space Exploration Technologies Corp. and has embarked on several other projects of late, including tunnel digger Boring Co. and a brain-computer interface startup called Neuralink. That’s led to concerns he’s looking to lessen his involvement with Tesla. But the new award binds him to the company for a decade, requiring him to remain either CEO or executive chairman and chief product 

The big award aside, Tesla’s board has said Musk won’t receive any other compensation to underscore that he’ll win only if shareholders do, too. The company is required by California state law to pay him a minimum-wage salary that adds up to roughly $37,000 per year, but Musk has never accepted it.)

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