from the voice-of-Jobs-experience dept.
Steve Wozniak spoke recently at the Nordic Business Forum in Stockholm. A clipping from the end of the short article,
After years of upgrades and new sensors, Woz sees Tesla as a company that has made major promises and delivered well under the bar. "I love that car, but the trouble is Elon Musk is portrayed in a lot of moves with a lack of faith and trust," he said. "What he says, can you really believe in him? Is he just a good salesman, like Jobs, and may not be there [in the end]?"
Wozniak went as far as to suggest that "every other car manufacturer in the world," including Audi and BMW, "are actually ahead of Tesla for self-driving cars." He then praised his Chevy Bolt EV, which he prefers to drive for everyday life.
It doesn't seem that long ago that Woz was calling out Toyota for problems with the cruise control on his Prius, but here's an update from 2010 -- https://gizmodo.com/5462205/steve-wozniak-update-on-his-prius-problems
If Elon Musk can increase Tesla's market value 12-fold in the next 10 years, he may be entitled to a maximum of $56 billion in stock awards (likely lower if more shares are sold to the public). This, along with the ballooning of Musk's existing $12 billion share in his company, and his stake in SpaceX and other companies, could help Musk become a Kardashev I trillionaire alongside Jeff Bezos:
A new payment plan for the CEO was approved by Tesla (TSLA) shareholders Wednesday, a spokesperson confirmed. The incentive-based package essentially states that if Musk hits a series of performance milestones between now and January 2028, and he drives his electric car company's market value 12 times higher — taking it from $54 billion to $650 billion — he'll become astronomically rich.
Now, if Musk does drive a 12-fold increase in Tesla's market value, that doesn't necessarily mean the price of a single share in the company will be 12 times larger. The company can do things like issue new stock that could dilute the value of existing shares. But let's assume Musk's Tesla stock would grow at least 10 times more valuable. That would mean just the shares Musk owns today would be worth $120 billion.
Plus, reaching the agreed upon milestones means Musk would get additional stock awards. According to the new compensation plan, Tesla estimates the value of the stock awards to be $2.6 billion, using accounting methods for estimating the cash value of stock options. But if Tesla's market value balloons just as the payment plan hopes, those stock awards could be worth nearly $56 billion, according to a public filing.
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