Suppose he had set it up as a 1 million options a year at a $1 strike price when the stock was $1. It’s effectively zero compensation at the time of negotiation. If the stock price goes to $300, then it’s $299M even though the terms of the contract didn’t change, the value did.Except those layoffs had nothing to do with not having enough income. It was the result of a major reorganization at SpaceX, with multiple projects ending at the same time multiple other projects were just getting started, plus the transition from new booster production to mostly reusing boosters but needing to build lots of upper stages, plus strategic changes in their two biggest projects (for Starship, changing from composite to steel construction and moving production to the east coast. For Starlink, firing most of upper management and accelerating the test/deployment schedule). Within a few weeks they’d likely rehired to about the same level, just in different positions.

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