At the end of May, Tesla (NASDAQ: TSLA), granted CEO Elon Musk stock options that are today worth $1.8 billion. Now it’s about to do that again, according to a recent article on CNN Business by Chris Isidore titled, “Elon Musk about to get another $1.8 billion payday from Tesla.” According to the article, “Musk’s pay package, approved by Tesla shareholders in 2018, doesn’t pay him any salary or cash bonuses. Instead, it laid out a plan that could eventually give him 20.3 million stock options over the course of 10 years, in 12 equal blocks of 1.7 million options, as long as the company hits a series of operational and market value goals. The package could eventually make Musk the world’s richest man.”
In addition, the article highlighted Tesla’s continued steady climb in share price, indicating that it, “has continued to climb steadily, rising more than 70% since Musk received the previous options grant. That gives the company a current market value of $258.6 billion, and a six-month average of $138.6 billion. That new market value is closer to the next target than it might appear. Tesla shares need only to stay at this level for the next two weeks to hit the six-month average of $150 billion,” Isidore states in the article, indicating that, at the current market value, the company is the most valuable automaker in the word, now topping Toyota Motor Corp. (NYSE: TM), which is worth about $200 billion. In addition, Tesla is now worth more than Volkswagen AG (OTC: VLKAF), the third most valuable automaker, as well as all of the following, combined: General Motors Company (NYSE: GM), Ford Motor Company (NYSE: F), Fiat Chrysler Automobiles N.V. (NYSE: FCAU), and Honda Motor Company Ltd. (NYSE: HMC).
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About Tesla Inc.
Tesla Inc. engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The company operates through the following segments: Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture and sale of electric vehicles. The Energy Generation and Storage segment includes the design, manufacture, installation, sale, and lease of stationary energy storage products and solar energy systems, and sale of electricity generated by its solar energy systems to customers. It develops energy storage products for use in homes, commercial facilities and utility sites. The company was founded by Jeffrey B. Straubel, Elon Reeve Musk, Martin Eberhard, and Marc Tarpenning on July 1, 2003 and is headquartered in Palo Alto, CA. For more information, visit www.Tesla.com.
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