Tesla Inc. CEO and project architect Elon Musk has caught the attention of the media for many reasons over the years. As an eccentric personality in the media and online, Musk’s activity within his company has always been closely examined. However, in the coming week, it looks as though the CEO sits at the edge of an enormous pay day.
Elon Musk doesn’t take a salary in his position at Tesla, nor does he accept any bonus pays. Instead, he receives preferential stock purchasing abilities. But there are a few caveats in the most recent case.
As Tesla nears its first quarter earnings report for the year, several other factors related to Musk’s big potential payout are coalescing. In order for Musk to qualify for a purchase of 1.69 million shares at $350.02 per share, a few benchmarks must be met by Tesla. The main factor that Tesla has yet to hit is that of reaching and holding a $100 billion value for a total one-month and six-month-long average. As the company’s current value sits at $96 billion, it’s likely they’ll reach the figure.
If this happens, Musk’s purchase of his shares will hover around $720 million in value. With lots of big news for Tesla right around the corner, stay tuned for more updates. Tesla’s Q1 earnings report is slated to be released this afternoon, stay tuned.
