Tesla Elon MuskTesla

Tesla stock has skyrocketed more than 130% this year, outpacing the broader market. 
Shares of the automaker have also notched several all-time highs in recent weeks. 
CEO Elon Musk will earn major payouts if the stock continues to gain, but board members have stakes in the company that would benefit as well.  
These are the nine board members who stand to gain as the stock surges, and the value of their holdings as of June 12.
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Tesla stock is on a tear that seemingly won’t slow down.

So far this year, Tesla stock has gained more than 130%, outpacing the broader market and in recent weeks notching several all-time highs on reports of solid sales in China and CEO Elon Musk’s own directive to ramp up production of its commercial semi-truck.

The skyrocketing price has put Musk closer than ever to a major payout that’s part of his moonshot compensation package. In a recent SEC filing, Tesla’s board confirmed that Musk had met requirements to unlock the first tier of the massive payday — the company’s average value on the stock market for the past six months in May went above $100 billion for the first time.

The SEC filing was a stamp of approval for Musk to receive the first $700 million in stock options from the pay deal. All in, the compensation package could be worth as much as $55.8 billion, according to Tesla’s own estimate in the proxy statement laying out the plan.

But while Musk may take home the most from Tesla’s gains, board members are also benefiting from the surging price. Nine other board members hold Tesla shares, ranging in value from hundreds of thousands of dollars to billions. 

Read more: Schwab’s global investing chief says the market’s best-performing stocks are due for a surprising rotation for the first time in 12 years — and shares 3 ways to get ahead of the shift

To be sure, Tesla board members would have to sell part of their positions to reap any of the stock’s recent gains. And, there’s at least one new board member for whom share information is not yet available — Hiromichi Mizuno, a Japanese pension fund chief, who joined Tesla’s board as its 10th member in April. 

Here’s how many Tesla shares the nine board members hold, and the value of those positions as of the closing price of $935.28 on Friday, June 12. 

1. Elon Musk
Paul Hennessy/SOPA Images/LightRocket via Getty Images

Title: Chief executive officer, board member, Tesla. CEO SpaceX. Founder of The Boring Company and Neuralink Corp. 

Number of shares held: 34,098,597

Value (as of close on 6/12/20): roughly $32 billion 

 

Source: Bloomberg data, SEC filings 

2. Larry Ellison
Kimberly White/Getty Images

Title: Board member, Tesla. Founder, CEO, chief technology officer, board member of Oracle Corp. 

Number of shares held: 3,001,250

Value (as of close on 6/12/20): about $3 billion 

 

Source: Bloomberg data, SEC filings 

3. Steve Jurvetson
YouTube/TechCrunch

Title: Board member, Tesla, SpaceX, and D-wave. Venture capitalist. 

Number of shares held: 156,343

Value (as of close on 6/12/20): $146 million 

 

Source: Bloomberg data, SEC filings 

See the rest of the story at Business Insider

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