Tesla CEO Elon Musk on verge of $750 million payday as stock floats near record highs
The electric car marker's CEO will receive his first option tranche of 12 tranches total, as outlined in his two-year-old pay package.
Each tranche gives Musk the option to buy 1.69 million Tesla shares at $350.02 each. Based off of Tesla stock's Monday closing price of $798.75, Musk could turn around and sell those shares for a total profit of $758 million. Musk will be granted the first tranche of options if Tesla's stock price obtains a six-month average market capitalization of $100 billion.
With shares trading just 15% below their all-time high closing price of $917.42, Tesla's six-month average market capitalization is $96 billion.
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