Soaring Tesla stock has Elon Musk close to second $1.8 billion payout - Business Insider

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Soaring Tesla stock has Elon Musk close to second $1.8 billion payout - Business Insider
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Tesla's stock keeps ripping higher — helping Elon Musk get even closer to his second $1.8 billion pay day

Fueled by stronger-than-expected car deliveries, shares of Tesla have surged over 40% in the past seven sessions, elevating the company's market capitalization to $259 billion. More important for Musk's personal finances, Tesla's six-month average market capitalization has reached a record $138 billion.

Each tranche gives Musk the option to buy 1.69 million Tesla shares at $350.02 each. At Tesla's current stock price of $1,397, Musk would theoretically be able to sell the shares related to the tranche that vested in May and the upcoming tranche for a combined profit of over $3.5 billion, or $1.8 billion per tranche.

The solid delivery numbers heightened expectations of a profitable second quarter, which would mark four consecutive profitable quarters, a first for Tesla, and a key hurdle to be added to the S&P 500 index.

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