Tesla’s soaring share price has put Elon Musk within touching distance of the first tranche of a $50bn incentive package designed to keep him at the helm of the electric car maker.
The company’s shares broke through $534 on Tuesday, valuing its equity at $96bn, a higher market value than Ford and General Motors combined.
If the stock reaches $554.80, Tesla would hit a valuation of $100bn. If it holds that level for six months, it would unlock the first of several potential share-based payments to Mr Musk, worth just under $350m.
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