1/19/2019 0 Comments
Based on the intensive described work schedule of Ilon Mask, his time at the office can be worth at least $ 900 thousand per hour.
An hourly calculation is based on the calculations of the Entrepreneur magazine, after taking into account his potential earnings, only from Tesla.
Mask explained his working routine in a car and power company based in Palo Alto, California, saying he spent 120 hours a week at work. "There were times when I did not leave the factory for three or four days - days when I did not go outside. This really was at the expense of my children and friends. "
If he slows down and works less time, but still achieves the $ 650 billion target, his time will be worth even more per hour on the basis of the last payment.
Mask's salary from Tesla is public and is set at the minimum wage in California, but usually does not take her. He also earns a salary from SpaceX, a private company from which financial data are not disclosed. So, while the estimated net value of Mask is $ 24 billion.
But Tesla has announced his long-term compensation plan for the CEO and he is complicated. It is also based solely on its performance.
"Ilon will not receive a guaranteed fee of any kind - no pay, no cash bonuses, and no capital that he will receive simply over time. Instead, Elon's only compensation will be a 100 percent risk-reward, which guarantees that it will be reimbursed only if Tesla and all its shareholders operate exceptionally well. Since all Tesla employees have provided capital, this also means that Ilon's reimbursement is linked to the success of everyone in Tesla, "the company said.
On the basis of the milestones to be met, if Mask succeeds in bringing Tesla to a value of 650 billion dollars, the innovator will be paid about 55.8 billion dollars. Since we know that Mask worked at an incredible rate of 120 hours a week for a long time, assuming that it will continue, he will work 17 hours each day, which is 6.240 hours a year and a total of 62,400 hours in the next decade.
When $ 55.8 billion will be subdivided by all these 62,400 hours, this means that his hour will be equal to 900 thousand dollars per hour during the time spent at the office.
But if he does not fulfill the goals set for him, he will not get anything, and all those working weeks, no matter how long, will end without a reward for the CEO.