The surge in Tesla Inc's (TSLA.O) stock market value beyond US$1 trillion on Monday is a double bonanza for Chief Executive Elon Musk, the electric car maker's largest shareholder. The stock rallied 12.7 percent on news that Tesla landed its biggest-ever order from rental car company Hertz. That stake includes options worth over US$50 billion that have vested under Musk's 2018 compensation package. Musk receives no salary at Tesla: his pay package provides 12 options tranches that vest when Tesla's market capitalization and financial growth hit a series of rising milestones. The options let Musk buy Tesla shares at US$70 each, a discount of more than 90 percent from their current price.

Source: The Standard October 26, 2021 14:28 UTC