Business
Elon Musk unlocks $3b jackpot thanks to Tesla milestone – Sydney Morning Herald
Elon Musk’s decision to tie his pay deal to Tesla’s financial success is paying off.
In early May, Musks first tranche vested after Teslas six-month average stockmarket value reached $US100 billion.
Musk has already achieved targets related to Teslas financial growth that are also required in order to vest the latest options tranche.
Each tranche gives Musk the option to buy 1.69 million Tesla shares at $US350.02 each, less than a quarter of their current price. At Teslas current stock price of $US1,568, Musk would theoretically be able to sell the shares related to the tranch…
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