5th of May is an unprecedented day for Elon musk as he not only welcomes only child with musician Grimes but also becomes qualified for stock options worth more than $700 million.This is the couple’s first child together. Musk has five other children — twins Griffin and Xavier and triplets Damian, Saxon and Kai — from a previous marriage.
On Tuesday, Tesla (TSLA) shares were worth $144 billion making it worth more than any auto company except for Toyota. Tesla already hit first two operational goals, but until now it had yet to reach the market value target of an average of $100 billion over a six-month period.When Musk gets the first tranche of 1.7 million options, he can exercise them at a cost of $350.02 each but as an executive he is less likely to exercise that cost immediately bringing the amount to about $72- million. Musk who already owns about 20% of the company and $26.4 billion in shares is in the line to be the richest man in the world if he gets 20.3million options .