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Tesla’s successful quarter allows Musk to get $ 11 billion in options

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The numbers recorded in Tesla’s latest quarterly report are in line with targets, giving CEO Elon Musk eligible for two options totaling $ 11 billion.

These are the fifth and sixth of twelve tranches of options in Musk’s 2018 contract. Recall that Musk does not receive a salary at Tesla. His remuneration is contingent on the achievement of certain market capitalization goals and the financial growth of the company.

Significantly yielding in terms of production to such giants of the automotive industry as Toyota Motor, Volkswagen or General Motors, Tesla surpasses them in terms of capitalization. It is the most valuable car manufacturer in the world with a market capitalization of $ 700 billion. For comparison, the capitalization of Toyota, the world’s largest automaker, is $ 250 billion.

Each tranche gives Musk the opportunity to buy 8.4 million Tesla shares for $ 70 each. This is less than 10% of their current price. Based on the current price of $ 722 per share, Musk’s current remuneration is roughly $ 11 billion, and the sum of all six options already granted is close to $ 34 billion.

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