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SpaceX ties Musk compensation to Mars colonization goal
The package would give Musk 200 million super-voting shares if SpaceX reaches a $7.5 trillion valuation and builds a 1 million-person Mars colony.
- SpaceX's board approved a compensation plan for founder Elon Musk linking rewards to colonizing Mars and operating space-based data centers, with details revealed in a confidential registration statement filed with the Securities and Exchange Commission and reviewed by Reuters last week.
- The performance package awards 200 million shares if SpaceX hits a $7.5 trillion valuation and establishes a Mars colony of at least 1 million people, plus 60.4 million shares for operating space data centers providing at least 100 terawatts of capacity.
- SpaceX is preparing for an initial public offering near Musk's June 28 birthday, which could value the firm at about $1.75 trillion. The company has not responded to requests for comment regarding the compensation details.
- Executive compensation expert Eric Hoffmann of Farient Advisors called the package incomparable, noting that SpaceX and Tesla are effectively bidding against each other for Musk's attention. He cited Musk's previous threats to leave Tesla without generous pay.
- Musk's dual management of SpaceX and Tesla potentially creates tensions for shareholders of both companies. Already worth $776 billion, he holds 68.8 million in previously awarded Class B stock options that expire in 2031.
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Musk Thinks $10 Trillion SpaceX Package Would Be A 'Good Deal' But Warns Dollars Could Become Obsolete As
Elon Musk on Tuesday shared his views on SpaceX’s reported pay package, which could be tied to the colonization of Mars and orbital datacenters. Good Deal, Says Elon Musk User @beffjezos quoted a post on X that shared details about the purported pay package. The user predicted what Musk’s SpaceX package could look like. “$10T if we reach Kardashev Type I,” the user shared and “$1000T if we reach Kardashev II,” they added. data-variant="card" da…
·New York, United States
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matzav.comElon Musk set for major SpaceX payday — if he settles 1 million people on Mars
SpaceX’s board of directors has reportedly approved a pay package that would give Elon Musk a massive payday if the company succeeds in establishing a human colony on Mars.
·New York, United States
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Coverage Details
Total News Sources18
Leaning Left2Leaning Right5Center4Last UpdatedBias Distribution46% Right
Bias Distribution
- 46% of the sources lean Right
46% Right
L 18%
C 36%
R 46%
Factuality
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