Tesla (TSLA) - Get Report CEO Elon Musk may be coming into even more money soon. If all goes well with Tesla’s growing share price, Musk will unlock a $346 million payout housed within his 2018 compensation package.
The payout will be dispensed if Tesla’s valuation reaches $100 billion and holds that figure for six months.
Currently, Tesla’s market capitalization is about $97 billion.
Tesla’s stock has been on a tear in recent months, more than doubling since September 2019. If the stock reaches $554.80, Tesla will hit that $100 billion valuation mark. On Wednesday morning, Tesla’s stock price was trading at $534.49.
Elon Musk's net worth is estimated at around $31 billion, making him the 28th wealthiest person in the world.
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