Tesla's Musk Places Job Performance First - Won't Get Paid Unless Company Meets Lofty Goals

Tesla said CEO Elon Musk will receive no guaranteed compensation of any kind, and that he will be paid only if the company and all of its shareholders do extraordinarily well.

The compensation will be based on a combination of market capitalization and operational milestones, the company said in a statement on Tuesday.

Musk "will receive no guaranteed compensation of any kind -- no salary, no cash bonuses, and no equity that vests simply by the passage of time," Tesla said.

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TheSteve - 1/23/2018 4:27:19 PM

+4 Boost

Beware of executive claims of "no compensation." I've seen this many time, while the execs go quickly vesting stock options granted to them, or "loans" made to them which were "forgiven" years later (i.e., you don't have to pay us back).

Tesla is bleeding red in, left, right, and center, and Musk is positioning himself as a "really good guy" by not having the Tesla Motor Corporation give some of its borrowed money, or the cash it collects from stock sales or bond offerings, to him in the form of a salary?

TomM - 1/23/2018 5:06:35 PM

+1 Boost

Remember - Musk has his Rocket company - and they are going to produce a manned space craft too. THere are more ways for him to get the government to give him money as well.

qwertyfla1 - 1/24/2018 9:40:18 AM

+1 Boost

When you are worth billions forgoing a salary is hardly a sacrifice. If upper management did this until model 3 production was humming along then that would be a completely different story & more skin in the game.