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This is a wild story.
Analysis from 2018 here:
https://corpgov.law.harvard.edu/2018/05/22/elon-musks-compensation/
So when they gave him this, Tesla was worth about 60 Billion. They said if you ~10x the company, well give you what amounts to roughly 10% of the company in stock. Regardless of what part he played, or what stock price says about company value, at it’s height in 2021 Tesla was worth 1 trillion, overshooting the most ridiculous targets by almost 70% (the worth at that point would have been 17x what it was in 2018).
On the one hand, it’s just all so ridiculous that I don’t think anyone saw that actually happening, which is probably why they voted for it. On the other hand, I’m glad he lost it because the sooner Tesla != Musk the better and this feels like a decent wedge for driving that separation. I wonder if this means they have to adopt a revised compensation plan or something.
These people definitely exist, and 1/3 of the time they find each other.