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Tesla's Musk qualifies for US$2.1 billion payday

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His second jackpot since May.

Musk has already achieved targets related to Tesla’s financial growth that are also required in order to vest the latest options tranche. — AFP

Despite Tuesday’s stock dip, and importantly for Musk’s personal finances, Tesla’s six-month average market capitalisation for the first time has reached US$150 billion . In early May, Musk’s first tranche vested after Tesla’s six-month average stock market value reached US$100 billion. At Tesla’s current stock price of US$1,594 , Musk would theoretically be able to sell the shares related to the tranche that vested in May and the current tranche for a combined profit of US$4.2 billion , or almost US$2.1 billion per tranche.

Tesla’s stock has surged more than 500% over the past year as the company increased sales of its Model 3 sedan.

 

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