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Blistering Tesla rally has made Elon Musk richer by $16 bn in 2020

The controversial chief executive, who is also the majority owner and CEO of rocket maker SpaceX, recently testified that he did not have a lot of cash as he successfully defended himself in a lawsuit

Tesla | Elon Musk

Reuters  |  San Francisco 

Tesla is making Elon Musk a lot richer without paying him a dime. A blistering stock rally has bolstered the value of CEO Musk's 19 per cent stake in the electric car maker by $16 billion since the start of 2020, to $30 billion (23 billion pounds). Tuesday's steep climb in the share price could sweeten Musk's payday under his record-breaking compensation package, which is built on stock options that rely on market value targets. Two milestones have now been achieved that could see Musk unlock options worth $1.8 billion. The controversial chief executive, who is ...

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First Published: Wed, February 05 2020. 06:19 IST