Tesla’s market value briefly crept above $100 billion (Dh367bn) for the first time, a threshold that will trigger a huge payout for Elon Musk if he can sustain the feat for months.
At the post-market high of $555.10, Tesla’s market capitalization was roughly $100.1bn, just short of Volkswagen’s $100.6bn.
Mr Musk, Tesla’s billionaire chief executive, is eligible to receive the first tranche of an all-or-nothing pay award if the company’s market value stays above $100bn for both a one-month and six-month average. On paper, the first chunk of the award would net him about $346 million.
According to the Bloomberg Billionaires Index, he currently has a net worth of around $32bn.
Source: Thenational
