Elon Musk Is in Better Spirits After Son’s Birth & $700 Million Payday

Elon Musk welcomes a new-born baby. He’s also eligible to receive a tranche of his compensation package worth $700 million.

Elon Musk, Twitter

After trolling his company last week, Elon Musk is in better spirits thanks to some much-needed good news. | Image: Philip Pacheco / AFP

  • Elon Musk had a rough couple of days, which cost Tesla billions of dollars.
  • The entrepreneur’s bad days appear to be behind him for now as he welcomes his first child with girlfriend Grimes.
  • To add icing on the cake, Musk is also eligible to receive the first tranche of his compensation package.

Last week, Tesla (NASDAQ:TSLA) chief executive Elon Musk was at the center of controversy. The business magnate was far from his best behavior as he openly challenged shelter-in-place orders, called the lockdown “fascist,” and went on an expletive-laden rant at Tesla’s first-quarter earnings report.

To top it all off, Musk tweeted that his company is overvalued. His antics wiped out $15 billion in Tesla’s market cap after the stock plunged 10% on Friday.

Even if this was true, what could have motivated Musk to discourage investors from buying TSLA?
Even if this was true, what could motivate Musk to discourage investors from buying TSLA? | Source: Twitter

But today is a new day, and Musk has probably dusted off his bad vibes. In the last 24 hours, Musk met his newborn son and satisfied the criteria to receive a boatload of Tesla stock.

Elon Musk Welcomes First Child With Musician Grimes

Congratulations are for the Tesla executive and his long-term partner–Canadian pop artist Grimes. The couple welcomed a healthy baby boy to the delight of their fans on Twitter.

Musk sharing a moment with his newborn son
Musk sharing a moment with his newborn son. | Source: Twitter

The Tesla head tweeted that “Mom & baby [are] all good.” Still, Musk’s Twitter followers pestered him for the boy’s name, to which he replied:

X Æ A-12 Musk

Musk to Receive First Tranche of Historic Executive Package

TSLA’s 8% surge on Monday drove the company’s market capitalization to $141.1 billion. The stock’s recovery allows the company to cross the coveted six-month average of $100 billion. Tesla’s milestone triggers the vesting of the first of 12 tranches granted to Musk as part of the compensation package approved by shareholders in 2018.

Musk already hit two other requirements, including a particular growth target and a one-month average $100 billion market cap. The triggering of the first tranche allows Musk to buy 1.69 million TSLA shares at $350.02 each. Should Musk sell his shares at the closing price of $761.19, he can take home close to $700 million.

The sale would push the net worth of Tesla’s CEO north of $40 billion. That’s probably enough for Musk to let loose and troll his one-day-old son.

Look who’s in a great mood
Look who’s in a great mood. | Source: Twitter

It looks like Elon Musk is in better spirits. I bet he’ll appreciate being locked down with his adorable baby boy.

Disclaimer: This article represents the author’s opinion and should not be considered investment or trading advice from CCN.com. The writer does not own Tesla (TSLA) shares.

Last modified: September 23, 2020 1:55 PM
Kiril is a CFA Charterholder and financial professional with 6+ years of experience in financial writing, analysis, and product ownership. He has a bachelor's degree with a specialty in finance and lives in Canada. Kiril’s current focus is on finance and cryptocurrencies. He owns Bitcoin, Ethereum, and other cryptocurrencies. He holds investment positions in the coins but does not engage in short-term or day-trading. Get in touch with Kiril: Email, Follow on Twitter
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