Income Elon Musk approaches $ 1.8 billion

Income Elon Musk approaches $ 1.8 billion

July 9, 2020 0 By autotimesnews

As a result of the rapid growth of Tesla shares, the state of the chief executive officer of the company, Elon Musk, can grow to $ 1.8 billion. This is the second record in the last 2 months.

Due to higher-than-expected supply of cars, Tesla shares have grown by more than 40% over the past seven sessions, with the result that the company’s market capitalization has already reached about $ 259 billion. More importantly for Musk’s personal finances, Tesla’s average market capitalization for 6 months reached a record $ 138 billion.

Achieving an average market capitalization of $ 150 billion over six months will result in the transfer of the second of 12 tranches of options granted to the billionaire for the purchase of Tesla shares as part of his payout package in 2018. In early May, the first tranche was handed over to the inventor after the average market value of Tesla shares for half a year reached $ 100 billion.

Each tranche gives Musk the opportunity to buy 1.69 million shares of Tesla for $ 350.02 each. At Tesla’s current share price of $ 1,397, Musk could theoretically sell shares related to the tranche that was issued in May with a total return of more than $ 3.5 billion, or $ 1.8 billion per tranche.

Last week, Tesla reported higher-than-expected shipments in the second quarter. Optimistic supply data raised expectations for a profitable second quarter, which would mark four consecutive profitable quarters.

Musk, who is also the majority owner and CEO of the SpaceX rocket, does not receive a salary, only payment packages. The full payment of all tranches will surpass everything that was previously paid to American leaders.