Image Source - Google | Image by Harmon Leon
Chief Executive Elon Musk is about to hit a jackpot worth $1.8 billion payday as Tesla's scorching stock rallying over the past month. With that kind of amount in the pocket, it can dwarf any payday of star Silicon Valley executives!
Powered by stronger-than-expected car deliveries, the company’s shares have boosted over 40 percent in the previous seven sessions, increasing the Company’s total market value to $259 billion.
The CEO’s personal capital has a major role in this surge, Tesla's market capitalization has reached a record high of $138 billion over the last six months on average.
Well, that’s a hell of a windfall for the 49-years-old lad!
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All credit goes to Musk’s performance-based compensation package. Musk has about 20 percent of Tesla’s outstanding shares, with no bonus and salary as approved in the compensation plan by shareholders in 2018. If the company makes it to the milestone of $150 on a six-month average, Musk will be eligible to buy 12 tranches, a series of packages of stock options, as per the terms mentioned in the plan in 2018.
Image Source - Google | Image by Noel Randewich
In May, the first tranche came into Musk possession after the company’s six-month average stock market value reached $100 billion.
Even though on March 18, Tesla shares fell to a year-low of $350.51 just days before the company ceased its production on account of government measures taken to slow down the spread of coronavirus.
Since then, Tesla’s market share had taken a major turn around and has sold out in almost double - as of Tuesday, it closed at $769.12 per share. The company reported better-than-ever car deliveries in early April and also announced to undergo some employee pay cuts to curb the financial constraints due to the coronavirus pandemic.
Tesla also reportedly postponed its plans to bring some of its Fremont factory employees back to work on Wednesday.
Considering the rallying company’s stock shares, full-time twitter troller and part-time chief executive Elon Musk roasted some of the ‘shorters’, who were betting on the company’s stock price decline, by launching his own brand of short shorts. It went really popular as the website crashed soon after Elon Musk made its launch announcement on twitter.
As of Wednesday, the electric-car making company is scheduled to give its full-quarter outcomes, with investors keeping an eye on the possible changes on Tesla’s decisions to sell more than a million cars in the year 2020.