Jan 23, 2020
Tesla overtakes Volkswagen as value hits $100bn
Tesla has displaced Volkswagen as the world's second most valuable carmaker, after a dramatic rise in share price pushed its market value to more than $100bn. If Tesla sustains the $100bn valuation, it could unlock the first piece of a $2.6bn compensation package for Mr Musk. The plans calls for Mr Musk to receive payouts in shares over 10 years, with the first award contingent on the firm reaching $100bn in market capitalisation and sustaining that value over both a month, and six-month average. Tesla also had to reach $20bn in revenue and earn $1.5bn, after adjusting for items like taxes - thresholds the carmaker reached in 2018. Tesla was valued at about $550bn when the pay deal was approved.
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