If Tesla's market value hits $100 billion, it will unlock the first tranche of Musk’s all-or-nothing moonshot award worth about $346 million.
Within a year, the company achieved two of the milestones for Musk’s award: It brought in more than $20 billion in aggregate revenue over four quarters and booked more than $1.5 billion in adjusted earnings before interest, taxes, depreciation and amortization over that span. It also said the next EBITDA threshold — $3 billion — is within reach.
For Tesla to achieve a $100-billion market value, its stock must climb to $554.80, based on the current number of shares outstanding. But it’s not a one-day event: The terms of Musk’s award require that both the six-month trailing share price average and the 30-day trailing average exceed that figure before the first tranche of options is released.
The tranche consists of 1.69 million options that would net Musk about $346 million if he exercised them and sold the shares immediately at the threshold share price, which could be a welcome payday for a billionaire who told a jury last month that he’sHowever, that’s an unlikely scenario. He hasn’t sold a single share of Tesla for years, apart from unloading
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
German carmakers eye Brandenburg after Tesla expansion pushThe German state of Brandenburg has received a flurry of inquiries from German c...
Read more »
Elon Musk says will design a future Tesla car in China for global marketTesla CEO Elon Musk said the company will open a design and engineering center in China.
Read more »
Tesla starts work on Model Y program at Shanghai factoryU.S. electric vehicle maker Tesla Inc on Tuesday officially started work on a Mo...
Read more »
Elon Musk says Tesla will export China-made vehicles amid trade war - Business InsiderElon Musk says Tesla will export cars from its new China factory and that could help it avoid further trade war pain
Read more »
Tesla delivers first Chinese-made Model 3 to customersTesla has delivered its first Chinese-made cars to customers and chief executive Elon Musk says the electric car brand plans to set up a design center in China
Read more »
Tesla bear is forced to hike price target after rally, but still expects a 25% dropCredit Suisse significantly raised its price target for Tesla shares but the new expectation still represents a drop from current levels.
Read more »