Elon Musk Unlocks Second Tranche for $2.1 Billion USD Payday

Two down, 10 more to go.

By
Automotive 
6,876 Hypes 5 Comments

Earlier this month, the first two tranches of Elon Musk’s stock options in Tesla were valued at $3.5 billion USD, but now, just two weeks later, its value has surged to $4.2 billion USD, and the CEO has just unlocked the second tranche.

The feat is largely thanks to the impressive performance of Tesla‘s stock value over the last few months. Despite being down 3 percent in afternoon trading on Tuesday, the company’s market capitalization nonetheless reached almost $300 billion USD, the largest of any automaker. More importantly for Musk, the company’s six-month average market capitalization broke through the $150 billion mark for the first time, unlocking the second of his 12 tranches in stock options that were awarded to him in 2018 in lieu of a regular salary.

The two tranches allow Musk to buy 1.69 million shares each in Tesla at just $350.02 USD per share. Taking into account the automaker’s current stock price of $1,594 USD — more than four times the agreed amount — Musk can effectively sell all his shares from the two tranches for a profit of $4.2 billion USD, marking the biggest payday received by any CEO in American history.

Elsewhere in business-related news, Jeff Bezos has increased his fortune by $13 billion USD in a single day.

Read Full Article

What to Read Next

AzChike and Too $hort Join KYLE for "See You When I'm Famous" MV
Music

AzChike and Too $hort Join KYLE for "See You When I'm Famous" MV

Flexing with braggadocious bars.

Greg Lauren Deconstructs Americana for Summer 2021
Fashion

Greg Lauren Deconstructs Americana for Summer 2021

Emphasizing distressed denim, vibrant patchwork, and upcycled fabrics.

'Samurai Jack: Battle Through Time' Release Date Announced
Gaming

'Samurai Jack: Battle Through Time' Release Date Announced

A hack and slash experience created by Adult Swim Games.


Trey Songz Shows Support for #BlackLivesMatter in "2020 Riots: How Many Times" Visual
Music

Trey Songz Shows Support for #BlackLivesMatter in "2020 Riots: How Many Times" Visual

Showing the artist on the frontlines.

Séfr Presents Sartorial Sophistication Alongside Elevated Essentials for SS21
Fashion

Séfr Presents Sartorial Sophistication Alongside Elevated Essentials for SS21

The “Union” collection offers something for everyone.

Que La Famille Travels to Idyllic Seaside for Summer 2020 Lookbook
Fashion

Que La Famille Travels to Idyllic Seaside for Summer 2020 Lookbook

Light, breezy layers colored in soft pastels and tropical prints.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. By adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.