Musk nears US$346m payday as Tesla market value soars | Malay Mail

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SAN FRANCISCO, Jan 14 — Tesla Inc Chief Executive Elon Musk is coming close to earning the first US$346 million tranche of options in a record-breaking pay package, after the electric vehicle maker’s stock more than doubled in the last three months. Shares of Tesla surged 9 per cent to a record...

Tesla CEO Elon Musk attends the Tesla Shanghai Gigafactory groundbreaking ceremony in Shanghai, China January 7, 2019. — Reuters pic

A full payoff for Musk, who is also the majority owner and CEO of the SpaceX rocket maker, would surpass anything previously granted to US executives, according Institutional Shareholder Services, a proxy advisor that recommended investors reject the pay package deal at the time. Musk’s potential payout compares to the US$638 million received by Snap Inc founder Evan Spiegel in 2017 after the social network company’s initial public offering. In 2018, Walt Disney CEO Robert Iger earned stock grants worth as much as US$149.6 million, including awards related to Disney’s purchase of film and television assets from Twenty-First Century Fox.

Many investors remain sceptical that Tesla can consistently deliver profit, cash flow and growth, however. More Wall Street analysts rate Tesla “sell” than “buy,” and the company’s stock has been one of the most shorted on Wall Street.

 

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