Elon Musk had a very good week. The CEO of Tesla and SpaceX successfully launched two NASA astronauts into space. He also just got a $770 million payday.
As part of his performance-based compensation plan with Tesla, Musk had to meet a series of financial goals. In exchange, he received options to buy 1.7 million shares of Tesla stock at $350.02 a share, which is less than half the current price. The shares would give Musk a theoretical gain of $770 million.
This is in addition to his current net worth of nearly $40 billion.
Musk already owns 38.7 million shares of Tesla stock, which represents a 20.8% stake in the company worth $32.3 billion, and he could potentially earn more.
There are 12 possible blocks of stock he could earn under the compensation plan, which could eventually give him an additional 20.3 million shares.
It could potentially make him the richest man in the world solar system.