Tuesday, June 28, 2022
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Elon Musk’s stock wealth set to see a boost of $35billion – ‘Hitting all the triggers’


Owner of Tesla Motors, Mr Musk, 50, may qualify for four of the tranches this year – a record for him – and one more in early 2023 once fourth quarter 2022 results are officially in the books. Dan Ives, a technology analyst at Wedbush Securities, told CNN: “With Tesla’s growth trajectory, I’d be surprised if he doesn’t get all five tranches this year based on hitting all the triggers.”

Shares in Tesla were broadly flat in New York on Tuesday – up 0.07 percent, or 68 cents, at $930.68.

Tesla, founded in 2003, is the world’s most valuable carmaker.

Shares in the group surged, and its market value fleetingly scaled $1 trillion, as it ramped up production and the wider automotive sector pivoted towards electric vehicles amid rapidly growing demand.

Its stock has since fallen sharply, however, and has retreated by almost a quarter so far in 2022. The carmaker is due to release its latest earnings on Wednesday.

Under each tranche of options, Musk can purchase 8.4 million shares in Tesla for $70.01 each.

The current value of the group’s shares, which closed at $930 on Monday evening, indicates that each tranch would be worth in excess of $7 billion.

The news report claims that Mr Musk does not take a salary from the company.

Lucrative pay arrangements approved in 2018 set him up for as many as a dozen batches of stock options, however, providing the automotive group clears certain hurdles relating to its financial performance and market value.

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Still, that was enough to shave $USD 3.3 billion ($4.61 billion) off of Musk’s net worth.

Many analysts see the recent slide in Tesla shares as a temporary setback.

Tesla shares reversed a similar slide in early 2021 to end the year up 50 percent.



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