Tesla market value tops $100bn, triggering payout for Musk

accreditation
Elon Musk, co-founder and Chief Executive Officer of Tesla, speaks at an unveiling event for The Boring Company Hawthorne test tunnel on December 18, 2018 (Photo by Robyn Beck-Pool/Getty Images)
Elon Musk, co-founder and Chief Executive Officer of Tesla, speaks at an unveiling event for The Boring Company Hawthorne test tunnel on December 18, 2018 (Photo by Robyn Beck-Pool/Getty Images)

Tesla shares hit $100bn for the first time on Wednesday, triggering a payout plan that could be worth billions for Elon Musk, founder and chief of the electric carmaker.

Shares in Tesla rose some 4.8% in opening trade to extend the gains in the value of the fast-growing maker of electric vehicles.

Under a compensation plan approved by Tesla's board in 2018, Musk is to be paid in stock awards based on the value of the company, which could be worth as much as $50bn if Tesla reaches $650bn. He agreed to the plan, which would pay him nothing until Tesla's value reached $100bn.

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
Rand - Dollar
14.85
-0.7%
Rand - Pound
20.48
+0.8%
Rand - Euro
17.30
+0.6%
Rand - Aus dollar
11.09
+0.5%
Rand - Yen
0.13
+0.5%
Gold
1,793.03
0.0%
Silver
24.33
0.0%
Palladium
2,023.00
0.0%
Platinum
1,043.50
0.0%
Brent Crude
85.53
+1.1%
Top 40
60,525
+1.7%
All Share
67,051
+1.5%
Resource 10
62,969
+2.5%
Industrial 25
86,659
+1.4%
Financial 15
13,849
+0.2%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
Facebook is facing a fresh crisis after a former employee turned whistle-blower leaked internal company research . Do you still use Facebook?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, the benefits outweigh the risk for me
25% - 241 votes
No, I have deleted it
46% - 440 votes
Yes, but I am considering deleting it
29% - 278 votes
Vote