Tesla Chief Executive Elon Musk qualified on Tuesday for a payout worth an unprecedented $2.1 billion, his second jackpot since May from the electric car maker following its massive stock surge.
Tesla’s stock was down 3% in afternoon trading, eroding a recent rally that has elevated the company’s market capitalization to almost $300 billion, larger than any other carmaker.
Despite Tuesday’s stock dip, and importantly for Musk’s personal finances, Tesla’s six-month average market capitalization for the first time has reached $150 billion. That triggers the vesting of the second of 12 tranches of options granted to the billionaire in his 2018 pay package to buy Tesla stock at a discount. Musk, who is also majority owner and CEO of the SpaceX rocket maker, receives no salary.
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