In terms of car sales, Tesla experienced a record quarter. Thanks to that, Elon Musk could be on his way to his fourth multi-billion paycheck this year.
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In order for Tesla to set a record and Musk be able to collect another reward, it would have to surpass car sales from the fourth quarter of last year. At that time, it delivered 112,000 electric cars. Server CNN but said that the production and delivery of cars this year was hampered by shutdowns at the Fremont, California plant caused by the pandemic.
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The third quarter ends next week. Musk recently sent an e-mail to Tesla employees stating that the sales record for electric cars was set during the third quarter of this year.
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“We have a record number of vehicle deliveries in a record quarter, but we will have to focus on achieving that. This is the largest number of vehicles per day that we have ever had to deliver, “Musk said in an e-mail.
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Musk sends similar messages to employees often. It calls on them to meet certain targets by the end of the quarter. “It’s also extremely important that we keep production at the factory at the highest possible level for the remaining ten days. This is crucial for the California market, “he added.
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12 tasks
Musk does not receive any salary from his company. However, he does not lose money because he receives reward packages approved by shareholders in 2018. The visionary is entitled to each of the 12 rewards in the form of shares, which could bring him over $ 50 billion if Tesla meets clear goals. They concern not only the company’s earnings, but also the average value of the company.
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This year, Musk managed to acquire two blocks of these options, each worth $ 3.2 billion. Tesla shares are among the most valuable in the US markets, this year their price climbed by more than 400 percent. This makes Tesla the world’s most valuable carmaker, even though its sales represent only a fraction of what the largest car manufacturers have.
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In August this year, Tesla confirmed that it had achieved its third operating goal with an average market value of $ 200 billion. The shares have had an average market value of $ 220 billion over the past six months.
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Another goal is to achieve an operating profit of $ 4.5 billion over four consecutive quarters. Tesla had almost done that. In the quarter ended June 30, its profit was $ 4.4 billion, and in the current quarter it could reach the level of $ 4.5 billion.
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If Tesla also clears this box, Musk would have to secure the company’s average market value of $ 250 billion over the next six months to fulfill its next task.
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Elon Musk has not yet exercised any of the options acquired, which is not uncommon. People who have been granted stock options usually do not use them unless they want to make money by selling the shares or until they expire. Remuneration is still only a fraction of Musk’s stake in Tesla, as he owns approximately 18 percent of the company.
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