Elon Musk on road to $50bn payout as Tesla’s value passes $100bn

January 22, 2020 at 07:42PM

Under pay scheme, founder must build electric carmaker into $650bn company by 2028

The Tesla founder, Elon Musk, has taken the first step to becoming $50bn (£38bn) richer after the value of the electric car company surged past $100bn.

Musk, already a multibillionaire with a net worth estimated at about $30bn, secured approval in 2018 for a pay deal that would dwarf existing records for renumeration if it was paid out in full.

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