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As Tesla shares rise, Elon Musk stands to reap a $346 million payout

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Tesla Inc CEO Elon Musk attends an opening ceremony for Tesla China-made Model Y program in Shanghai, China January 7, 2020.

Aly Song | Reuters

Shares of Tesla have doubled in price over the past three months, paving the way for a massive payday for CEO Elon Musk.

In 2018, Tesla’s board and shareholders authorized an unparalleled compensation plan for Musk, allowing him to earn options worth potentially more than $55 billion over the next decade. Musk currently draws no salary, although he owns around 20% of the company.

Musk would earn the first tranche if Tesla’s market capitalization hits and stays at $100 billion. Given the current number of shares outstanding, that means Tesla’s stock…



Source cnbc.com

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