Did you, by any chance, oversee a jaw-dropping ten-figure loss that pushed your fund underwater last year? Well, maybe you should have.
The CEO of SoftBank’s ailing Vision Fund, Rajeev Misra, is to be paid 1.61 billion Japanese yen ($15 million) this year, according to a notice SoftBank sent to its shareholders on Friday that was cited by multiple reports out of Japan.
The total package is 113% more than Misra received in the last fiscal year, when he took home around $7 million.
That’s pretty good, but do you know what would have been even better? Try having regular meltdowns on Twitter, dismissing the importance of things like profit and every other metric by which we usually measure companies’ success, getting sued over one of those Twitter meltdowns, pointlessly beefing with adversaries, continuously waving red flags in the face of the Securities and Exchange Commission and holding off shitting on your own company’s share price until after your market-cap-based stock award vests, because that’s the kind of thing that keeps on working for Elon Musk.
The tranche is comprised of about 1.7 million shares of Tesla, and would be valued around $775 million based on Thursday’s closing market value…. Musk earned the first portion of his stock options for keeping the company’s market capitalization at $100 billion on a 30-day and six-month trailing average.
Tesla also had to hit trailing-four-quarter revenue of $20 billion or EBITDA (minus stock-based compensation) of $1.5 billion for Musk to get the tranche.
Tesla stockholder Richard Tornetta is challenging the compensation plan in a lawsuit against Musk and members of Tesla’s board. Tornetta alleged in the lawsuit that Tesla’s board breached its fiduciary duty by awarding Musk excessive compensation.