Elon Musk Will Receive $706M in Tesla Shares
AP Photo/Paul Sakuma
Main page News, Elon Musk, Tesla

Tesla's average market cap for six months has exceeded $100B, Bloomberg has reported. As a result, Tesla has surpassed the threshold required for the company CEO Elon Musk to receive his first compensation package.

The compensation package consists of 20.3 million options, divided into 12 tranches. In addition, if all of the company's goals are met, the value of the compensation could jump to as much as $50B, making it the largest corporate pay deal between a company's CEO and a board of directors.

As part of the reward, Musk will receive 1.69 million shares that he can exercise at $350.02 each. At the end of the trading session, Tesla's shares were trading at $768.21, which means that the value of Musk's options was $706M.

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