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This post was originally published on Entrepreneur

Home Business Tesla could make Elon Musk earn $ 3 billion more

Tesla could make Elon Musk earn $ 3 billion more

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This post was originally published on Entrepreneur

The average six-month valuation of the company on the stock market reached $ 250 billion.

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October 8, 2020 2 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.
  • The average six-month valuation of the company on the stock market reached $ 250 billion.
  • This fact is one more step to activate the fourth of the 12 tranches of options to buy shares of the automaker with discounts, granted to the billionaire in his 2018 payment package.

Elon Musk , the founder of Tesla , could make $ 3 billion from the car company. All as a result of the fact that the average six-month valuation of the company in the stock market reached 250 billion dollars.

This fact is one more step to activate the fourth of the 12 tranches of options to buy shares of the automaker with discounts, granted to the billionaire in his 2018 payment package.

In each of these tranches the tycoon has the opportunity to buy 8.44 million shares of his company at a price of $ 70 each, this is one sixth of the current price of Tesla shares.

Photo: Depositphotos.com

According to Reuters , Musk’s reward is made up of a series of possible offsets on stocks that are based on market capitalization and operating targets.

To activate the fourth tranche of rewards, the billionaire’s company still has to reach targets related to profitability and income. This could happen in the third quarter report.

The current price of the automaker’s shares is $ 420 each, Elon Musk could sell the shares related to the next tranche, plus the other three tranches acquired in recent months for a combined profit of $ 11.8 billion, is that is, almost three billion dollars per tranche.

With information from Reuters

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