Elon Musk’s option haul swells to $8.8 billion

Tesla’s stock setback this week wasn’t enough to hinder Elon Musk’s improbable payouts, now amounting to a staggering $8.8 billion.

On Friday, Musk cleared the final threshold for a third tranche of his moonshot award, pegged to Tesla’s financial and market value. Infact, a Friday afternoon rally in the stock price ended a three-day rout.

It means another 8.44 million stock options will be at his disposal, adding to the 16.9 million that were unlocked in May and July, adjusting for the firm’s recent 5-for-1 stock split.