Tesla CEO Elon Musk is critically near a $720M payout

Tesla CEO Elon Musk is critically near a $720M payout

Tesla CEO Elon Musk

Payday approaches.

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On Wednesday, Tesla will report its first quarter earnings and we’ll possible study loads about how the coronavirus pandemic has affected the carmaker’s operations. CEO Elon Musk may be in for a $720 million payday if Wall Avenue digs the figures coming from the corporate.

You might recall we reported again in January that Musk was fairly near nailing each objective wanted to unlock the primary tier of a really aggressive pay bundle. To earn the primary tranche, Tesla wants to achieve a $100 billion worth after which maintain that worth for a one-month and six-month-long common. The automaker’s executed the primary two, and as of Tuesday, Tesla’s simply shy of the six-month common determine with a determine of $96 billion, Reuters studies.

We have seen Tesla inventory spike massive time following optimistic supply and monetary outcomes, and tomorrow’s information may push the carmaker into the world Musk must money in. Tesla beforehand met different operational targets to unlock the payday, too.

Musk would not take a wage or obtain bonus pay in his place as Tesla CEO, however the $720 million payout can be within the type of a inventory buy. If Tesla meets the primary targets listed, the automaker’s boss can be eligible to buy 1.69 million shares of the corporate at $350.02.

Immediately, Tesla inventory hovers round $778 per share, and with some simple arithmetic, that is a revenue of over $720 million. This determine will fluctuate relying on what worth Musk sells his shares, however nonetheless, it ought to be a big sum of cash. Musk at present has a internet value of $39 billion, in response to Forbes, making him the 31st richest particular person on the earth.

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