Tech billionaire Elon Musk tours Israel

Tech billionaire Elon Musk tours Israel

Tesla stock surged on Wednesday by nearly 4% to $322. Tesla's also recently lost some key executives.

Netanyahu agreed with "greatest technological visionary" that the Negev is the "energy future of the State of Israel" and vowed to develop it.

Though I feel like an acquisition is unlikely simply because the space has seen a ridiculous surge in valuation and autonomous driving startups basically have an automatic billion-dollar valuation, which would be hard to pull for Tesla.

The award, which won't vest unless a set of ambitious financial goals are met, had been cheered by some large Tesla investors who said it would help the CEO drive the business forward. The compensation is dependent on the company hitting certain milestones in the coming years, including whether or not Musk can usher Tesla to an astronomical market valuation of $650 billion in the next 10 years - an amount that would be more than 10 times the company's current value of around $59 billion.

It also seems unlikely that Tesla CEO Musk and his senior executives have never even heard of Cortica as it is one of Israel's most promising and prominent startups with a major worldwide presence in the self-driving vehicle sector, in which Tesla is a key player. Musk will have to grow the electric-car company's market cap more than 10-fold, to a staggering $650 billion.

But it requires Musk to reach a dozen targets and achieve tremendous growth that would make Tesla one of the most valuable companies worldwide in order for him to cash in.

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This artist's concept shows the OSIRIS-REx spacecraft passing by Earth.NASA's Goddard Space Flight Center/University of Arizona. In the case of Bennu, scientists have deemed HAMMER "inadequate" as it would be unable to nudge the massive asteroid off course.

The package - arguably the largest-ever of its kind - underscores the company's outsize ambitions and how intimately connected its future success is to Musk. Proxy advisory firms Institutional Shareholder Services Inc. and Glass Lewis & Co. have urged investors to vote against the package, while large shareholders Baillie Gifford & Co. and T. Rowe Price Group Inc. have signaled they're likely to support it.

Tencent Holdings Ltd. were not immediately available to comment.

The big award aside, Tesla's board has said Musk won't receive any other compensation to underscore that he'll win only if shareholders do, too. Large stock awards can be costly for investors in two ways: They can increase a company's expenses and they dilute the stakes of existing shareholders. "In addition, we have concerns about the lack of focus on profitability for the company, and the one profitability metric that is used excludes the cost of stock-based compensation", CalSTRS' Director of Corporate Governance, Anne Sheehan, said in a statement.

Ross Gerber, CEO of Gerber Kawasaki Wealth & Investment Management in Santa Monica, California, which holds Tesla shares, said he voted yes.

Elon Musk is in Israel, and what he's doing there is now the subject of speculation.

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