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Wealth Tesla Market Value Hits US$100 Billion—Elon Musk Gets Closer To Record Payout

Tesla Market Value Hits US$100 Billion—Elon Musk Gets Closer To Record Payout

Tesla Motors CEO Elon Musk speaks to the media next to its Model S during a press conference in Hong Kong. 25JAN16  SCMP/ Nora Tam (Photo by Nora Tam/South China Morning Post via Getty Images)
Photo: Getty Images
By Pearl Yan
By Pearl Yan
January 23, 2020
The new milestone makes Tesla the first US carmaker worth more than US$100 billion

Since its announcement of a surprise third-quarter profit and a new factory in China, Tesla’s shares have more than doubled over the past three months. And it shows no sign of stopping, evident from its surge on Wednesday in which its market value topped US$100 billion for the first time, surpassing that of General Motors and Ford Motor combined. 

If the automaker’s market value remain at the uS$100 billion level for a one-month and a six-month average period, CEO Elon Musk will have the option to buy about 1.7 billion shares at roughly US$350 each—a pay award worth about US$346 million.

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BEIJING, CHINA - OCTOBER 23:  (CHINA OUT) Elon Musk, Chairman, CEO and Product Architect of Tesla Motors, addresses a press conference to declare that the Tesla Motors releases v7.0 System in China on a limited basis for its Model S, which will enable self-driving features such as Autosteer for a select group of beta testers on October 23, 2015 in Beijing, China. The v7.0 system includes Autosteer, a new Autopilot feature. While it's not absolutely self-driving and the driver still need to hold the steering
Elon Musk bets big on the world’s biggest car market with the first-ever China-made Teslas. (Photo: Getty Images)

While it’s a huge bonus, it would only represent 1% of Musk’s current net worth of about US$32 billion, according to Forbes, in which about half of it composed of Tesla shares. Currently, Musk owns a fifth of the company, or 32 billion shares, and while Tesla does not pay Musk a salary or a bonus, a compensation plan for him was authorised by Tesla’s board and shareholders in 2018, which allows him to earn options worth an estimated US$55 billion over the next decade.

Tesla is set to report fourth-quarter earnings after the market closes on 29 January.

See also: Tesla Reveals Rendering Of Its New Trailer

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Wealth elon musk tesla automaker luxury cars billionaire stock market

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