Tesla CEO Elon Musk cruises to $11.8 billion haul from his moonshot award

Tesla Inc.’s Elon Musk collected the fourth tranche of his moonshot award this month, bringing his aggregate haul to $11.8 billion.

File photo: Following a surge in Tesla’s stock, Musk in May collected the first tranche of the massive options award he was granted in 2018. (AP)
File photo: Following a surge in Tesla’s stock, Musk in May collected the first tranche of the massive options award he was granted in 2018.

The company recently surpassed the performance thresholds for market value and adjusted earnings before adjusted interest, taxes, depreciation and amortization, according to a regulatory filing on Monday, unlocking yet another 8.44 million options for the billionaire chief executive officer.

Following a surge in Tesla’s stock, Musk in May collected the first tranche of the massive options award he was granted in 2018. He received the second and third tranches in July and September, respectively.

Also Read : Maharashtra joins race to woo Tesla, holds discussions with EV maker

Musk’s complete compensation package -- the largest corporate pay deal ever struck between a CEO and a board of directors -- includes about 101 million options, split into 12 tranches, that could yield Musk more than $50 billion if all goals are met, according to the electric carmaker’s estimates. He’s allowed to exercise the options as they’re unlocked, but can’t sell any of the shares for five years.

Musk’s fortune has more than quadrupled this year to exceed $100 billion, the largest gain of anyone on the Bloomberg Billionaires Index, making him the world’s fourth-richest person.

First Published Date: 27 Oct 2020, 09:54 AM IST
NEXT ARTICLE BEGINS
Shopping Bag Shop Now
70% OFF
VENO Portable High Power 2 in 1 Car Vacuum Cleaner | USB Rechargeable Wireless Handheld Car Vacuum Cleaner Traveling, Camping Reusable and Sustainable (2 in 1 Vacuum Cleaner)
Rs. 899 Rs. 2,999
5% OFF
Godrej aer O – Hanging Car Air Freshener | Car Accessories | Cool Aqua (7.5g)
Rs. 94 Rs. 99
SHAYONAM Dent Removal Kit - Powerful Car Dent Repair Kit - Suction Cup Dent Puller Handle Lifter and Dent Repair Puller for Car Body Dent, Glass, Tiles and Mirror (Plastic)
Rs. 349
5% OFF
Godrej aer O – Hanging Car Air Freshener | Car Accessories | Musk After Smoke (7.5g)
Rs. 94 Rs. 99

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.