Elon Musk Qualifies for $706 Million Payout from Tesla

by Kay Lee

Tesla’s average market capitalization ratio exceeded $100 billion in six months. At the same time, the company reached the threshold necessary for Elon Musk to receive his first payout — $706 million.

Tesla CEO owns 20.3 million stock options, which could bring him more than $50 billion if all of the company's goals are achieved. As the first payout, Elon Musk can use 1.69 million stock options at $350.02 for each.

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48-year-old Musk is one of the wealthiest people in the world with a fortune of 38.5 billion dollars. But the entrepreneur has been posting rather strange tweets lately.

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On Friday, Musk said on Twitter, "Tesla stock price is too high imo," using an abbreviation for "in my opinion."

That tweet sent Tesla's stock tumbling 10%, shocking shareholders.

Also, the owner and CEO of the SpaceX rocket manufacturer recently decided to sell almost all of his belongings.

At the same time, the CEO of Tesla and SpaceX is involved in quite ambitious projects. For example, Elon Musk will compete with Jeff Bezos in the construction of devices for landing on the moon. In addition, he agreed to send Tom Cruise into space to make the first movie shot in outer space.

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