February 27, 2024

Elon Musk will receive Tesla shares for $ 706 million

Elon Musk will receive $706 million worth of Tesla shares

Elon Musk is due to receive over $ 700 million worth of options on Tesla shares soon.

AlthoughTesla CEO doesn't get paidin 2018, shareholders offered him a very generous and ambitious stock compensation plan in the event of a significant increase in the company's revenue. If all financial targets are achieved, Elon Musk will receive more than $50 billion. 

Each $ 50 billion increase in Tesla's market capitalization entitles the CEO to receive 1.69 million shares at a fixed price.

Yesterday, the automaker closed at$ 761.19, their market value on average reached a six-month value of $ 100.2 billion. The company reached the threshold necessary to receive the first tranche of the compensation plan.

Musk will receive his share of the shares at a fixed price of $ 350.02. Given the latest high market price, the value of the Mask options was $ 706 million.

Recall that the state of the 48-year-old Mask, who is on the list of the richest people in the world, is estimated at 38.5 billion dollars.

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