Musk would qualify for the next block of stock once Tesla had a six-month average of value of $150 billion.
The company’s share price has continued to climb steadily, rising more than 70% since Musk received the previous options grant. That gives the company a current market value of $258.6 billion, and a six-month average of $138.6 billion.
That new market value is closer to the next target than it might appear. Tesla shares need only to stay at this level for the next two weeks to hit the six-month average of $150 billion.
Musk has yet to exercise his options. That’s not unusual — executives typically only do so once the shares are about to expire, or when they want to sell them. So the value of the options is more hypothetical than real at this point.
Musk owned 20.8% of Tesla, or 38.7 million shares, before the options he has or will receive this year, a stake worth nearly $54 billion as of Thursday’s close.
Even more massive paydays could lie ahead. For Musk to get to the third block of stock options, Tesla must maintain a market value above $200 billion over the course of six months and hit the next round of operational goals over the course of four consecutive quarters — either revenue topping $30 billion or $3 billion in earnings, before interest, taxes and depreciation.