Its net worth remained virtually unchanged on Wednesday, with Tesla shares just slightly lower. Musk owns about 18% of Tesla’s shares.
Tesla shares rose 743% in 2020, which pushed it to No. 5 on the list of most valuable companies in the stock market. And stocks continued to rise in the first few weeks of 2021, gaining another 25% to a record high of $ 883.90 on January 26th. Shares have fallen by about 25% since then.
Even if Tesla’s shares continue to plummet, Musk will be even richer in 2021 and beyond.
It received four grants to buy 8.4 million shares of Tesla each in 2020. Each was worth $ 4.5 billion at Friday’s closing price, after considering the exercise price of $ 70 per share. that Musk will have to pay. Musk will likely receive three additional option grants this year, each as large and as lucrative as the ones he received in 2020.
Musk has not exercised any of his options. Executives typically exercise them when they have to expire or release cash. Musk has never sold shares of Tesla.
Musk is also the largest shareholder in the private company SpaceX. The company completed a new round of financing in February. Although it has not revealed the details, numerous published reports say that the $ 850 million it raised increased the valuation of this company by 60% to $ 74 billion.
– Chris Isidore and David Goldman of CNN Business contributed to this report.