Billionaires: Elon Musk gets closer to $346m payout as Tesla value touches $100bn – The National

Billionaires: Elon Musk gets closer to $346m payout as Tesla value touches $100bn – The National

Billionaires: Elon Musk gets closer to $346m payout as Tesla value touches $100bn. Tesla's market value crept above $100 billion (Dh367bn) for the first time, a threshold that will trigger a huge payout for Elon Musk if he can sustain the feat for months.. At the post-market high of $555.10, Tesla's market capitalisation was roughly $100.1bn, just short of Volkswagen's $100.6bn.. Tesla's stock price closed at $564.82 Friday and a market cap of $101.8bn.. Mr Musk, Tesla's billionaire chief executive, is eligible to receive the first tranche of an all-or-nothing pay award if the company's market value stays above $100bn for both a one-month and six-month average.. For Mr Musk's subsequent 11 tranches to vest under the terms of the 2018 package, the company's market cap would have to continue to sustainably rise by $50bn increments over the agreement's 10-year period, with the billionaire earning the full package if Tesla's market capitalisation reaches $650bn and the electric car maker achieves several revenue and profit targets.. Mr Musk, 48, receives no salary or cash bonus, only options that vest based on Tesla's market cap and milestones for growth.. The $100bn milestone comes less than a month after Tesla's stock crossed $420,