Core Viewpoint - The Delaware Supreme Court has reinstated Elon Musk's original $56 billion compensation plan, overturning a lower court's decision that deemed it too extreme [2][4]. Group 1: Court Rulings and Legal Context - The Delaware Supreme Court criticized the lower court for not allowing Tesla to explain how the compensation could be considered fair [3]. - The initial compensation plan, granted in 2018, included 12 sets of market and operational goals, with Musk eligible for 12% of Tesla's stock options if all targets were met [4]. - A shareholder, Richard Tornetta, argued that the Tesla board failed to fulfill its duties, leading to Musk's undue influence over the approval of the compensation plan [4]. Group 2: Financial Implications and Market Reactions - The original $56 billion compensation plan has increased in value to approximately $140 billion, should Musk exercise all stock options [5]. - If Musk wins the ongoing compensation case, a temporary compensation plan worth about $29.7 billion will be automatically canceled [5]. - Following the court's decision, Tesla shareholders approved a new compensation plan for Musk, potentially worth up to $1 trillion, with similar performance targets [6]. Group 3: Broader Business Context - Tesla has relocated its corporate headquarters from Delaware to Texas to mitigate future shareholder lawsuits, limiting legal actions to investors holding less than 3% of shares [6]. - SpaceX is preparing for a potential IPO, with an internal stock price of $421 per share, valuing the company at $800 billion, aiming for a record IPO size [7]. - Musk's net worth has surpassed $600 billion, making him the world's first billionaire with such a net worth, and he holds about 42% of SpaceX [7].

美国一法院放行马斯克原560亿美元薪酬方案。 据新华社消息， 美国特拉华州最高法院19日裁定，特斯拉公司首席执行官埃隆·马斯克原总值560亿美元 的薪酬方案遭下级法院取消的决定太过极端，该方案必须恢复。 特拉华州最高法院指出，下级法院、特拉华州衡平法院并未给特斯拉机会解释公正薪酬理应如何。 市场分析认为，这一裁决可能终结围绕马斯克"天价"薪酬长达数年的争斗。 2018年，特斯拉曾授予马斯克史上最大规模的高管薪酬方案，该方案包括12组市值和经营目标。如果马 斯克能够实现全部目标，将获得特斯拉12%的股票期权作为奖励，当时价值约为560亿美元。 不过，特斯拉一名小股东理查德·托尔内塔认为特斯拉董事会未能履行职责，致马斯克对薪酬方案获批施 加不当影响，并因此"不公正致富"。 特拉华州衡平法院首席法官凯瑟琳·麦科米克2024年1月30日裁决马斯克薪酬方案无效。特斯拉股东大会 当年6月再次表决批准薪酬方案。被告特斯拉、特斯拉董事会及马斯克方面随后发起动议，向麦科米克申 请认可特斯拉股东决定。同年12月2日，麦科米克裁定维持此前裁决。被告之后上诉至特拉华州最高法 院，要求推翻下级法院裁决，上诉案今年10月15日开庭。 今 ...

据央视新闻报道，美国特拉华州最高法院19日裁定，特斯拉公司首席执行官埃隆·马斯克原总 值560亿美元的薪酬方案遭下级法院取消的决定太过极端，该方案必须恢复。 △埃隆·马斯克（资料图） 特拉华州最高法院指出，下级法院、特拉华州衡平法院并未给特斯拉机会解释公正薪酬理应如 何。 分析人士称，特拉华州最高法院这一裁决可能终结围绕马斯克"天价"薪酬长达数年的争斗。 特斯拉董事会和股东大会于2018年批准一项马斯克的薪酬方案，当时总值约560亿美元。方案 设立12项目标，马斯克每完成一项，便可获得相应的股票期权激励。原告方、特斯拉一名小股 东理查德·托尔内塔认为特斯拉董事会未能履行职责，致马斯克对薪酬方案获批施加不当影 响，并因此"不公正致富"。 原告托尔内塔的律师表示正考虑下一步举措。 特斯拉方面未予置评。马斯克则经由社交媒体表示，他"被证明是清白的"。 马斯克已完成上述560亿美元薪酬方案所设目标。今年11月，特斯拉股东以超过75%的赞成票 通过了董事会为马斯克制定的最新薪酬方案，最高价值可达1万亿美元。新方案同样设立12项 目标，若全部落实，马斯克持有的特斯拉股票价值将达约1万亿美元，持股比例将升至25%左 右。不 ...

12月20日，据新华社消息，美国特拉华州最高法院19日裁定，特斯拉公司首席执行官埃隆·马斯克原总值560亿美元的薪酬方案遭下级法院取消的 决定太过极端，该方案必须恢复。 特拉华州最高法院指出，下级法院、特拉华州衡平法院并未给特斯拉机会解释公正薪酬理应如何。 这是2024年4月15日在美国加州圣马特奥县拍摄的一家特斯拉汽车销售店。新华社发（李建国摄） 按美国消费者新闻与商业频道说法，特拉华州最高法院这一裁决可能终结围绕马斯克"天价"薪酬长达数年的争斗。 特斯拉董事会和股东大会于2018年批准一项马斯克的薪酬方案，当时总值约560亿美元。方案设立12项目标，马斯克每完成一项，便可获得相应 的股票期权激励。原告方、特斯拉一名小股东理查德·托尔内塔认为特斯拉董事会未能履行职责，致马斯克对薪酬方案获批施加不当影响，并因 此"不公正致富"。 马斯克是世界首富，按美国《福布斯》杂志15日公布的数据，他已成为世界首个净资产超过6000亿美元的人。 编辑：十月 特拉华州衡平法院首席法官凯瑟琳·麦科米克2024年1月30日裁决马斯克薪酬方案无效。特斯拉股东大会当年6月再次表决批准薪酬方案。被告特 斯拉、特斯拉董事会及马斯克方面随 ...

特拉华州最高法院指出，下级法院、特拉华州衡平法院并未给特斯拉机会解释公正薪酬理应如何。 这是2024年4月15日在美国加州圣马特奥县拍摄的一家特斯拉汽车销售店。新华社发（李建国摄） 按美国消费者新闻与商业频道说法，特拉华州最高法院这一裁决可能终结围绕马斯克"天价"薪酬长达数 年的争斗。 新华社北京12月20日电 美国特拉华州最高法院19日裁定，特斯拉公司首席执行官埃隆·马斯克原总值 560亿美元的薪酬方案遭下级法院取消的决定太过极端，该方案必须恢复。 原告托尔内塔的律师表示正考虑下一步举措。 特斯拉方面未予置评。马斯克则经由社交媒体表示，他"被证明是清白的"。 马斯克已完成上述560亿美元薪酬方案所设目标。今年11月，特斯拉股东以超过75%的赞成票通过了董 事会为马斯克制定的最新薪酬方案，最高价值可达1万亿美元。新方案同样设立12项目标，若全部落 实，马斯克持有的特斯拉股票价值将达约1万亿美元，持股比例将升至25%左右。不过按美媒说法，新 方案设立的目标难度极高。 特斯拉股东今年8月还为560亿美元薪酬方案最终遭取消制定"B计划"，准备允许马斯克在两年后以该薪 酬方案所设特斯拉股价购买约9600万股股份。这一 ...

美国一法院放行马斯克原560亿美元薪酬方案 海洋 美国特拉华州最高法院19日裁定，特斯拉公司首席执行官埃隆·马斯克原总值560亿美元的薪酬方案遭下 级法院取消的决定太过极端，该方案必须恢复。 特拉华州最高法院指出，下级法院、特拉华州衡平法院并未给特斯拉机会解释公正薪酬理应如何。 按美国消费者新闻与商业频道说法，特拉华州最高法院这一裁决可能终结围绕马斯克"天价"薪酬长达数 年的争斗。 特斯拉董事会和股东大会于2018年批准一项马斯克的薪酬方案，当时总值约560亿美元。方案设立12项 目标，马斯克每完成一项，便可获得相应的股票期权激励。原告方、特斯拉一名小股东理查德·托尔内 塔认为特斯拉董事会未能履行职责，致马斯克对薪酬方案获批施加不当影响，并因此"不公正致富"。 特拉华州衡平法院首席法官凯瑟琳·麦科米克2024年1月30日裁决马斯克薪酬方案无效。特斯拉股东大会 当年6月再次表决批准薪酬方案。被告特斯拉、特斯拉董事会及马斯克方面随后发起动议，向麦科米克 申请认可特斯拉股东决定。同年12月2日，麦科米克裁定维持此前裁决。被告之后上诉至特拉华州最高 法院，要求推翻下级法院裁决，上诉案今年10月15日开庭。 原告托尔内 ...

Core Points - Tesla shareholders approved a significant pay package for CEO Elon Musk, potentially worth around $1 trillion in company stock over the next decade, although support was lower than for a previous plan in 2018 [1][2][5] Group 1: Shareholder Vote - Approximately 66% of shares voted in favor of Musk's pay package, a decrease from 73% support for the 2018 plan [2] - Tesla reported that the plan received 75% support among voting shares, including Musk's own votes [3] - The decline in support follows a challenging period for Musk and Tesla, with sales dropping in the first half of the year and a decline in brand value [4] Group 2: Pay Package Details - The pay package consists of 12 tranches of shares contingent on Tesla achieving specific milestones over the next decade [6] - The first tranche will be granted if Tesla reaches a market capitalization of $2 trillion, which is $500 billion above its current valuation [6] - Musk could earn over $50 billion by meeting several more attainable goals outlined in the new pay plan, with provisions allowing him to earn shares without meeting all operational milestones [7]

Core Viewpoint - Tesla's annual shareholder meeting approved Elon Musk's compensation plan with over 75% shareholder support, making it the largest executive compensation plan in corporate history [1] Group 1: Compensation Plan Details - The compensation plan grants Musk up to 423.7 million restricted common shares, approximately 12% of the company's total equity, to be unlocked in 12 tranches based on specific performance milestones [3] - If all targets are met, the total value of the compensation could reach $1 trillion based on Tesla's current market valuation [3] - Should Tesla's market value exceed $8.5 trillion, Musk's shares could be worth over $2.4 trillion, potentially making him the world's first trillionaire, with his current net worth around $490 billion [3] Group 2: Performance Targets - Musk must achieve both market growth and core business objectives to unlock the stock awards, which include: - Market target: Starting from the current market value of approximately $1 trillion, each tranche corresponds to a $500 billion increase, ultimately requiring Tesla's market value to exceed $8.5 trillion [3] - Operational targets: Cumulative delivery of 20 million Tesla vehicles, over 10 million active FSD subscription users for three consecutive months, delivery of 1 million Optimus humanoid robots, and 1 million Robotaxis in commercial operation [3] - Financial target: Adjusted EBITDA must reach $400 billion, requiring over a 20-fold increase from the projected $17 billion in 2024 [3] Group 3: Conditions and Restrictions - The plan includes a "tenure requirement," stipulating that Musk must remain Tesla's CEO for the next 7.5 years; otherwise, unvested shares will be forfeited [4] - After unlocking the shares, Musk must adhere to a 5-year holding restriction to prevent short-term cashing out [4]

Core Viewpoint - Tesla's shareholders approved a compensation plan for CEO Elon Musk, potentially worth up to $1 trillion, ending debates over his pay and future with the company [1] Group 1: Compensation Plan - Over 75% of Tesla shareholders voted in favor of the new compensation plan for Elon Musk [1] - The plan sets the stage for Musk to become the world's first "trillionaire" [1] - Musk's stake in Tesla will gradually increase to 25% or more over the next 10 years [1] Group 2: Market Impact - Following the news, Tesla's stock rose over 2% to $455.5 [1] - A recent Morgan Stanley report indicated that if Musk's compensation plan were rejected, Tesla's stock could drop by more than 10% [1]

Core Points - Tesla shareholders approved a compensation plan potentially worth up to $1 trillion, ending debates over CEO Elon Musk's compensation and tenure [1][3] - This plan could make Musk the world's first trillionaire, as it allows him to increase his stake in Tesla to 25% or more over the next decade [5][6] Summary by Sections Shareholder Approval - Over 75% of Tesla shareholders voted in favor of the compensation plan during the annual shareholder meeting, excluding Musk's existing 15% stake [3][5] Compensation Structure - Musk does not receive a salary; instead, the approved compensation is in the form of stock grants, potentially amounting to 423.7 million shares of Tesla stock [5][6] Performance Targets - The compensation plan is structured as a high-stakes performance agreement, requiring Musk to meet ambitious revenue and product goals over the next ten years, including: - Achieving a market capitalization of $8.5 trillion - Selling 12 million vehicles - Delivering 1 million humanoid robots - Launching 1 million autonomous taxis (Robotaxi) - Increasing Full Self-Driving (FSD) subscription users to 10 million - Raising adjusted EBITDA from $17 billion in 2024 to $400 billion, a more than 20-fold increase [6]