Kế hoạch bồi thường của Musk cho SpaceX có thể đạt tới 110 tỷ USD

The Huoxing Finance report states that on June 6, as SpaceX prepares to go public at an estimated valuation of approximately $1.75 trillion, Musk has designed an equity incentive plan with a potential value of up to $1.1 trillion, significantly increasing the difficulty for future shareholders to challenge the plan by restructuring corporate governance and relocating its incorporation. According to SpaceX’s prospectus, the 1.3 billion Class B super-voting shares Musk has received are currently valued at approximately $175 billion; if all targets are met, their potential value could rise to $1.1 trillion. The related incentives require SpaceX’s market capitalization to reach as high as $7.5 trillion, alongside objectives such as establishing a permanent Martian colony with a population of one million and building a data center with an annual computing capacity of 100 terawatts. The report notes that, unlike Tesla’s $56-billion compensation package in 2018, which was overturned in a Delaware court, SpaceX has relocated its incorporation to Texas and disclosed these arrangements in advance in its prospectus. Under Texas law, shareholders must hold at least 3% of shares to initiate litigation—equating to hundreds of billions of dollars in holdings given SpaceX’s approximate $1.8-trillion valuation. Furthermore, even if performance targets are not met, Musk can immediately gain voting rights over the relevant shares. The prospectus shows that Musk currently holds approximately 85.1% of SpaceX’s voting rights and will retain about 82.4% after the IPO, maintaining control of the board through Class B shares. Multiple governance and compensation experts say the core purpose of this plan is not only to incentivize Musk to achieve long-term goals but also to ensure his continued firm control over SpaceX. Analysts note that SpaceX will operate as a “controlled public company,” with ordinary shareholders lacking the same governance protections typically afforded to general Nasdaq-listed companies.