TESLA

Elon Musk moves closer to putting another $1.8bn in his wallet

The recent Tesla stock rally is bringing the company's chief executive, Elon Musk, closer to a potentially worth $1.8 billion, his second in about two months.
Fueled by stronger-than-expected car sales, Tesla's shares have risen more than 40% in the past seven sessions, bringing the company's market value to $259 billion. Most important to Musk's personal finances, Tesla's average six-month market capitalization reached a record $138 billion.
Reaching an average market value of $150 billion in six months will trigger the acquisition of the second of the 12 installments of options granted to the billionaire to buy Tesla shares as part of his 2018 payment package. In early May, the first installment de Musk was invested after Tesla's average six-month market value reached $100 billion.
Musk has already achieved goals related to Tesla's financial growth that are also needed to acquire the approaching share of options.
Each installment offers Musk the option to buy 1.69 million Tesla shares for $ 350.02 each. At Tesla's current share price of $1,397, Musk would theoretically be able to sell the shares related to the May installment and the next with a combined profit of more than $3.5 billion, or 1.8 billion per share.
Tesla's stock accumulated a gain of 500% last year, as the company increased sales of the Model 3 sedan.
Musk, who is also the majority controller and chief executive of SpaceX, does not receive a salary, only the options in his compensation package. A total payment of all installments would exceed anything previously granted to US executives.

Autonews