ELON Musk is set for a massive £117billion pay day from Tesla – but will not be able to pocket any of it.
The staggering figure is part of a huge pay deal agreed between the firm and its billionaire boss last year.
Musk’s compensation figures were disclosed in a filing with the US Securities and Exchange Commission (SEC) on Thursday.But the tech giant will only receive the cash if he manages to deliver ambitious milestones.
This includes raising the electric car company’s market value to £6.3trillion.
But analysts say he has a long way to go before he sees the monster cheque.
Danni Hewson, head of financial analysis at AJ Bell, told the BBC: “Elon Musk isn’t actually going to pocket £117billion.”None of the milestones set out in the pay deal approved last year were achieved in 2025, she added.
The deal approved a total £760billion sum.
It came after Musk threatened to quit Tesla and take his artificial intelligence plans to another business in his tech empire.
Musk is already the world’s richest man with a net worth estimated between $651billion and $788billion.
His firm SpaceX is also poised to become one of the most valuable publicly traded companies in the world.
The rocket-maker is gearing up for an initial public offering (IPO), which would allow its shares to be traded on the stock market.
The tech mogul has also been fighting a court battle over the direction taken by a rival firm – OpenAI – which he founded with current owner Sam Altman in 2015.
Musk has claimed that Altman and fellow executive Greg Brockman “stole a charity” when they pursued profit-generating initiatives that he felt contradicted the company’s founding mission.
Throughout the court hearing, Musk had numerous touchy interactions with lawyers for OpenAI and the judge.
Calling himself a fool for investing in OpenAI
Musk’s lawsuit claims the artificial intelligence giant allegedly prioritised profit despite promising to keep the company a nonprofit dedicated to benefiting humanity.
“I was a fool who provided them free funding to create a startup,” Musk said on the witness stand in a California courtroom, per Wall Street Journal.
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“I gave them $38 million of essentially free funding to create what would become an $800 billion company.”
Musk contributed millions of dollars to the company, now valued at $852billion, between December 2015 and May 2017.
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