Musk's SpaceX pay hinges on Mars colonization, space data centers
What's the story
Elon Musk's compensation package as the CEO of SpaceX is heavily dependent on ambitious space exploration milestones. According to a recent filing with the US Securities and Exchange Commission (SEC), Musk can significantly boost his overall pay if SpaceX successfully establishes colonies on Mars and builds data centers in space. The board had awarded him 1 billion performance-based restricted Class B shares in January, divided into 15 equal tranches.
Bonus conditions
Musk needs to hit $7.5T market cap
To earn the full 1 billion shares, SpaceX must achieve a market cap of $7.5 trillion and establish a permanent human colony on Mars with at least 1 million inhabitants. Musk holds an 85.1% voting power ahead of a record initial public offering (IPO) planned for next month. This shows his strong control over SpaceX and its broader strategies in artificial intelligence (AI), satellite technology, and rocket launches.
Stake increase
Musk's stake in SpaceX has increased significantly
Last year, Musk increased his stake in SpaceX by purchasing $1.4 billion worth of stock from current and employees. In November, he was also awarded 302.1 million performance-based restricted Class B shares that will vest over 12 equal tranches. These shares will be granted if SpaceX's market cap exceeds $6.565 trillion and the company establishes non-Earth-based data centers capable of delivering 100 terawatts of compute per year.