Musk gets a second reward from Tesla … and that’s worth it

Source: Dubai – Arabic.net

Gains do not come individually. When Amazon founder Jeff Bezos wins, you must have heard before or after that about Tesla founder Elon Musk.

After Bezos won $ 13 billion in one day, the CEO of Tesla was able to obtain the second tranche of his billion reward after he managed to reach the target that would enable him to reach that reward.

The company’s average market capitalization has risen to more than $ 150 billion in the last six months to yesterday, according to Bloomberg data, although the company’s share price is currently declining.

This means that Musk can now handle 1.69 million additional stock options, but he must wait at least 5 years before he can sell them.

The implementation price of the options sale is $ 350.02, bringing the total value to $ 2.1 billion.

Musk got his first reward in May, when the company’s average market value in 6 months reached $ 100 billion. The company’s shares have risen more than twice since then, and the value of the company now exceeds Toyota, Volkswagen and AG and Hyundai combined.

Musk does not receive a salary, and Tesla pays him the so-called “compensatory bonuses”, which is the highest package that an CEO reaches with the company’s board members. This package includes 20.3 million options contracts, distributed over 12 segments, which could enable its founder to earn about 50 billion dollars if he achieved all of his goals, according to Tesla’s expectations.

Tesla shares fell 4.5% in New York on Tuesday to $ 1568.36, bringing its rise since the beginning of this year to 275%.

In order for Musk to receive the second installment of the bonus, the average market value of Tesla shares within six months must reach $ 200 billion, or that the company achieve revenues of $ 35 billion or profits before taxes, interest, depreciation and amortization of $ 3 billion, during four consecutive quarters .

Musk, 49, is the ninth richest person on earth with an estimated wealth of $ 71.5 billion, according to the Bloomberg Billionaires Index.

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Musk gets a second reward from Tesla … and that’s worth it

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