Musk eyes $346m payday as Tesla market value soars

Musk eyes $346m payday as Tesla market value soars

Tesla CEO Elon Musk dances onstage during a delivery event for the electric vehicle giant's China-made Model 3 in Shanghai earlier this month.. SAN FRANCISCO: Tesla CEO Elon Musk is coming close to earning the first $346 million tranche of options in a record-breaking pay package, after the electric vehicle maker's stock more than doubled in the last three months.. Shares of Tesla surged 9 percent to a record high on Monday.. Musk has already hit an operational target that is also necessary for the options to vest.. Many investors remain skeptical that Tesla can consistently deliver profit, cash flow and growth .. Musk owns about 34 million Tesla shares, equivalent to 19 percent of the company.. Peugeot bought Opel from US-based General Motors in 2017.