Thursday, August 27, 2020

Elon Musk is now the fourth-richest person in the world. He's about to get even richer

Elon Musk

By Chris Isidore, CNN Business

New York (CNN Business) - Elon Musk is worth $96 billion, making him the fourth-richest man in the world, according to Bloomberg. He's about to get a lot richer.

The Tesla CEO takes no regular salary, but in 2018 shareholders approved a pay package that could eventually give him 20.3 million stock options, paid in 12 equal tranches, potentially making him the richest person in the world. Thanks to the tremendous run-up in Tesla shares, Musk has qualified for two blocks of options, which on paper are worth about $2.8 billion each after he pays the exercise price.

Now he's weeks away from qualifying for the third tranche of options, worth an additional $2.8 billion.  Read more >>