Elon Musk in View of Bonus of No Less Than 23 Billion Dollars
Billionaire Elon Musk can become 23 billion dollars richer thanks to the good results of Tesla led by him. The electric car manufacturer recorded sales and profits in the past quarter higher than analysts had expected on average.
Together with the good results in the previous two quarters, Tesla has achieved milestones that entitle Musk to a hefty reward in stock options.
With quarterly revenue of nearly $19 billion and adjusted profit before depreciation and taxes of more than $5 billion, Musk now has three tranches of options on more than 25 million Tesla shares.
Those options give him the right to buy the pieces at a hefty discount. So while the shares had a closing price of $977.20 each on Wednesday, the world’s richest person could buy the shares for $70.01 each. That yields a hefty paper profit. Tesla executives still have to give final approval for the new bonuses agreed upon in 2018.
According to a list maintained by Bloomberg, Elon Musk currently has a net worth of $249.9 billion. A week ago, he announced his intention to buy social media platform Twitter for $43 billion.