Tesla stock for $350.02 per share. If he sells the
shares, he would make just over $371 million.
But for the options to vest, the market
capitalization has to average above $
billion for the next six months, and it has to
be above $100 billion for the next 30 business
days, according to the compensation packages
detailed in company filings with the U.S.
Securities and Exchange Commission.
Musk could get more stock payouts for every
additional $50 billion increase in market
capitalization. By meeting ambitious market
capitalization and operational milestones, he
could earn more than $50 billion over the next
decade if that value hits $650 billion.
In the third quarter, Tesla posted a surprising
$143 million profit, raising hopes that the
company, which also makes battery storage
units, could finally be turning the corner
to profitability.
But Tesla has posted mostly losses during its first
decade as a publicly held company, and it lost
$1.1 billion during the first half of last year. The
company reports fourth-quarter results on Jan. 29.
Earlier this year the company said it delivered a
record of about 112,000 vehicles in the fourth
quarter and about 367,500 for the full year
in 2019.
Tesla, based in Palo Alto, California, had earlier
projected deliveries of between 360,000 and
400,000 units worldwide.
Also, on Wednesday, the state of Michigan
confirmed that Tesla had reached a lawsuit
settlement allowing it to sell and service
vehicles in the state.