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After years of unpaid work, Elon Musk is about to receive a huge reward for bringing Tesla to an unprecedented milestone in history.

Tesla has finally reached the milestone of market capitalization of more than $ 100 billion for the first time in history. This is not only a milestone for the company but also has great significance for CEO Elon Musk.

Specifically, Tesla shares rose more than 8% in the session on Wednesday, pushing the market capitalization of the company to $ 107 billion before witnessing a slight decline and ending the session up a total of 4%, pushing capital. market capitalization to 102.7 billion USD.

After years of unpaid work Elon Musk is about to receive a huge reward for bringing Tesla to an unprecedented milestone in history | ICT News

This momentum will probably help CEO Elon Musk receive a huge bonus. In 2018, Tesla’s board of directors and shareholders approved a compensation plan for Musk, giving him the option to buy shares worth more than $ 55 billion over the next decade. Musk could make $ 346 million in advance if Tesla reached a market cap of $ 100 billion.

Currently CEO Musk works without pay even though he owns 20% of the company.

In order to receive the aforementioned huge bonus, Musk must retain the company’s market capitalization of over $ 100 billion for both 30 days and an average of the next 6 months. The company must also achieve annual revenue and the EBITDA milestone (profit before tax, interest and depreciation) is set at the same time. The company will also need to report the next quarter’s revenue of US $ 20 billion or EBITDA of US $ 1.5 billion.

With a market capitalization of more than $ 100 billion, Tesla is now bigger than General and Ford combined.

As of this moment, Tesla shares have risen 30% in 2020 since Tesla reported third-quarter earnings on October 23.

Since the beginning of the year, Tesla has impressed investors with record-breaking vehicle delivery figures for the fourth quarter. Tesla says it delivered 112,000 vehicles in the last quarter of last year, bringing the total The number of vehicles delivered in 2019 is 367,500 vehicles, an increase of 50% compared to 2018.

[ Æsir Tales ]
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