SpaceX IPO filing reveals Musk's billion-share bonus tied to Mars colony goal
By
Catherina Gioino
Summary
SpaceX's S-1 IPO filing reveals an extraordinary compensation package for Elon Musk: 1 billion restricted shares of Class B common stock, contingent on hitting 15 market capitalization milestones up to $7.5 trillion and establishing a permanent human colony on Mars with at least 1 million inhabitants. The article notes that prediction market traders view a Mars colony as unlikely, and SpaceX did not specify a timeline in its prospectus.
Source
bskySpaceX IPO filing reveals Musk's billion-share bonus tied to Mars colony goalfortune.comKey quotes
· 3 pulledThe SpaceX board will grant CEO and founder Elon Musk 1 billion restricted shares of Class B common stock on one condition: He has to hit 15 market capitalization milestones up to $7.5 trillion and establish a 'permanent human colony on Mars with at least 1 million inhabitants.'
When SpaceX published its S-1 on May 20, investors got what they expected: a landmark filing for a company planning the largest IPO in history.
What they may not have been ready for was the compensation structure buried inside it, which reads less like a corporate pay package and more like science fiction.
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