Elon Musk stands to receive options to purchase shares if Tesla reaches certain benchmarks, an important one being a market capitalization averaging $100 billion for six months. Tesla predicted it will hit that milestone within the next two months.
Tesla Inc. Chief Executive Elon Musk is close to getting a windfall that would dwarf any payday for star Silicon Valley executives as the electric-car maker predicts it could reach a key milestone within months.
Tesla’s market value is currently at $143 billion, nearly seven times the market value of Ford Motor Co. F, +4.06% and four times that of General Motors Co. GM, -1.20% The six-month average is around $97 billion.Tesla predicted that it will hit that $100 billion market-cap milestone within the next two months, “if the value of Tesla’s closing stock price continues near the levels seen in late April 2020,” the company said in a filing Tuesday.
By comparison, Google’s parent Alphabet Inc. disclosed last week that Chief Executive Sundar Pichai’s total compensation for 2019 topped $280 million thanks to stock awards tied to his promotion to chief executive of the entire company. The shares have gained 85% so far this year, contrasting with losses of 11% and 15% for the S&P 500 index SPX, -0.52% and the Dow Jones Industrial Average. DJIA, -0.13%
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