Elon Musk set to get $ 1.8 billion more from Tesla
Musk would qualify for the next block of shares once Tesla has a six-month average value of $ 150 billion.
The company’s stock price has continued to climb steadily, rising more than 70% since Musk received the previous option grant. That gives the company a current market value of $ 258.6 billion and a six-month average of $ 138.6 billion.
This new market value is closer to the next target than it looks. Tesla shares need only stay at that level for the next two weeks to hit the six-month average of $ 150 billion.
Musk has yet to exercise his options. This is not unusual – executives usually only do this when stocks are about to expire or when they want to sell them. The value of the options is therefore more hypothetical than real at this stage.
Musk owned 20.8% of Tesla, or 38.7 million shares, before options he has or will receive this year, a stake worth nearly $ 54 billion at the close of Thursday.
Even more massive pay days may lie ahead. For Musk to access the third block of stock options, Tesla must maintain a market value above $ 200 billion over the six months and meet the next set of operational goals in four consecutive quarters – or sales exceeding $ 30 billion or $ 3 billion in profits, before interest, taxes and depreciation.