Elon Musk gets closer to $346m payout as Tesla value touches $100bn

Elon Musk gets closer to $346m payout as Tesla value touches $100bn

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

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