SpaceX to reward Elon Musk if he gets one million people living on Mars

13 hours ago 26

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SpaceX Chief Executive Officer Elon Musk can boost his overall compensation if the company succeeds in building colonies on Mars and data centres in space, according to a U.S. Securities and Exchange Commission filing on Wednesday.

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In January, the board granted Musk one billion performance-based restricted Class B shares split into 15 equal tranches. To get the full award, the company will need to have achieved a market capitalization of US$7.5 trillion and established a permanent human colony on Mars with at least one million inhabitants.

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Musk owns 85.1 per cent of the voting power ahead of a record initial public offering planned for next month. That reflects a highly concentrated governance structure and his ironclad control over SpaceX and its broader AI, satellite and launch strategy.

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Musk boosted his stake in SpaceX last year, buying US$1.4 billion worth of stock from current and former employees.

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In November, he was also granted 302.1 million performance-based restricted Class B shares that vest over 12 equal tranches.

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Those will be awarded if the company’s market capitalization exceeds US$6.565 trillion and SpaceX completes non-Earth-based data centres capable of delivering 100 terawatts of compute per year.

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