SAN FRANCISCO — Tesla is earning Elon Musk a great deal richer without the need of paying out him a dime.
A blistering stock rally has bolstered the benefit of CEO Musk’s 19% stake in the electrical car maker by $16 billion considering that the start of 2020, to $thirty billion.
Tuesday’s steep climb in the share value could further sweeten Musk’s payday less than his document-breaking compensation bundle, which is developed on stock options that depend on market benefit targets. Two milestones have now been attained that could see Musk unlock options worthy of $1.8 billion.
The controversial chief govt, who is also the greater part owner and CEO of rocket maker SpaceX, not too long ago testified that he did not have a great deal of funds as he productively defended himself in a defamation lawsuit. He earlier has taken loans utilizing his Tesla shares as collateral.