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Tesla board certified $700 million pay package for CEO Elon Musk

Nabanita Dutta

News Editor

Billionaire, philanthropist, and Tesla CEO Elon Musk has been certified by the Tesla board for an unprecedented $700 million pay package. With this, Musk will be able to purchase nearly 1.69 million shares at a discount. This compensation plan has been approved by shareholders in 2018 consists of 20.3 million stock option awards broken up into 12 tranches of 1.69 million shares. This is the first of those 12 tranches.