General
Elon Musk qualifies for $14 billion options payout after Tesla quarterly report
Tesla’s quarterly report has hit targets qualifying chief executive Elon Musk for two options payouts worth a combined $US11 billion ($14.1 billion).
Key points:
-
Mr Musk receives no salary at Tesla, and his pay package requires Tesla’s market capitalisation and financial growth to hit a series of rising targets
-
He now has the option to buy 8.4 million Tesla shares at $US70 each ($89), a discount of more than 90 per cent from their current price
-
In its quarterly report after the bell, Tesla said it incurred an expense of $US299 million ($371 million) related to Musk’s pay package
The electric car maker beat Wall Street’s expectations for first-quarter revenue and profit, boosted by record deliveries, robust demand from China and…
-
General10 hours agoMildura man given 28 years to pay $73,000 in unpaid fines and tolls
-
General13 hours agoAustralia’s race to rewire the country amid a global transmission boom is not unique
-
Noosa News23 hours agoBrisbane State High School wants playing fields, not apartment towers at Visy riverside site
-
General24 hours agoNZ government’s puberty blockers move attracts strong reactions