Bloomberg Law
Free Newsletter Sign Up
Bloomberg Law
Free Newsletter Sign Up

Tesla’s Elon Musk Nears $2.4 Billion Haul as Stock Keeps Soaring

July 13, 2020, 4:48 PM

It was sold as an all-or-nothing moonshot into space, the boldest pay package in corporate history.

Elon Musk
Photographer: Saul Martinez/Getty Images

Now, with Tesla Inc.’s stock on a seemingly unstoppable rise, Elon Musk is poised to collect the second tranche of his pay award, worth $2.4 billion.

Barring a sudden drop in the electric-car maker’s shares, the final performance threshold tied to market value should be met in a matter of days. That would unlock 1.69 million stock options, yielding Musk the 10-figure sum if he were to exercise and immediately sell the shares.

The remarkable payout follows an equally remarkable ride for Tesla, ...