Elon Musk will receive a $ 2 billion award from Tesla

Tesla CEO Elon Musk could claim the $ 2 billion bonus after Tesla’s average market cap surpassed $ 150 billion in six months.

Musk now has the right to buy back 1.69 million shares of the company, although he must wait at least five years before selling them. The price of one is $ 350.02, so an entrepreneur could earn $ 2.1 billion on securities.

In accordance with the terms of the agreement, the Tesla CEO does not receive a fixed salary and bonuses, and his remuneration is tied to the company’s performance. The compensation package includes 12 tranches that could net Musk more than $ 50 billion if all of Tesla’s capitalization targets are met.

In May, the billionaire became eligible for his first prize of $ 775 million after the auto giant’s market capitalization topped $ 100 billion.

In July, it became known that Musk entered the top 5 richest people in the world, his fortune is estimated at 71.5 billion dollars. Basically, he managed to gain a foothold in the top five thanks to the growth in the value of Tesla shares. Their price in June for the first time in history rose above a thousand dollars, reaching $ 1005.