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(Reuters) – Tesla Inc’s blistering stock rally is putting Chief Executive Elon Musk in reach of a payday potentially worth $1.8 billion, his second jackpot from the electric car maker in about two months. FILE PHOTO: SpaceX owner and Tesla CEO Elon Musk arrives on the red carpet for the automobile awards “Das Goldene Lenkrad” (The golden steering wheel) given by a German newspaper in Berlin, Germany, November 12, 2019.
Fueled by stronger-than-expected car deliveries, shares of Tesla have surged over 40% in the past seven sessions. All then elevating the company’s market capitalization to $259 billion. More important for Musk’s personal finances, Tesla’s six-month average market capitalization has reached a record $138 billion.
Moreover, once he was hitting a six-month average market capitalization of $150 billion. Geez that would trigger the vesting. So then goes the second of 12 tranches of options granted to the billionaire. All to buy Tesla stock as part of his 2018 pay package. In early May, Musk’s first tranche vested after Tesla’s six-month average stock market value reached $100 billion.
(Graphic: Source: Reuters) (Elon Musk’s big payday, here)
In conclusion, Musk has already achieved his targets. All related to Tesla’s financial growth. That’s so that he is required to perform in order to vest. It’s the approaching options tranche.
For the entire story by Reuters.
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