Musk, Now The World’s Fifth Richest Person, Unlocks Second Part Of $55 Billion Bonus Package

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Musk, Now The World’s Fifth Richest Person, Unlocks Second Part Of $55 Billion Bonus Package
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I am a breaking news reporter for Forbes in London, covering Europe and the U.S. Previously I was a news reporter for HuffPost UK, the Press Association and a night reporter at the Guardian. I studied Social Anthropology at the London School of Economics, where I was a writer and editor for one of the university’s global affairs magazines, the London Globalist. That led me to Goldsmiths, University of London, where I completed my M.A. in Journalism. Got a story? Get in touch at [email protected], or follow me on Twitter @bissieness. I look forward to hearing from you.

of his compensation package in May, after the electric carmaker’s six-month and 30-day values averaged at $100 billion.Musk accelerated to the fifth spot onThat came after shares of Tesla, now the world’s most valuable car company, rose nearly 10% on Monday, to $1,643.00, marking a 300% rise this year.To unlock the third trance of his compensation package, Tesla’s six-month average market cap would need to exceed $200 billion and more than $30 billion in revenue.

Musk's $55 billion compensation package is the largest such performance-related pay deal ever agreed between a CEO and a board. The package includes more than 20 million stock options. While the coronavirus pandemic initially cast doubt over how quickly Musk would hit his targets, the company’s unprecedented share price surge of late suggests it has been anything but hindered.

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