Wednesday, January 24, 2018

Making Billions

Elon Musk, the founder and chief executive of electric car company Tesla who is already a multi-billionaire has agreed to work unpaid for the next 10 years – after which he would collect an unprecedented $55.8bn (£40bn) bonus if builds the 14-year-old business into a $650bn company within a decade. If he keeps all his current shares and achieves the maximum bonus target, he could end the decade with 28.3% of Tesla’s shares (if the company does not release any more). If Tesla hits the $650bn valuation target, his stake would be worth $184bn, making him easily the world’s richest man.
Musk is the world’s 44th richest person with a $21.5bn fortune.

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