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Elon Musk Earned $23BN After Tesla Posted Strong Q2 Performance

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Elon Musk earns $23 Billons after Tesla profit surge

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By Paul Whiston, April 21, 2022

Elon Musk, the world’s richest human and by proxy the world’s richest billionaire, added another $23 Billion to his $269 billion dollar fortune. The latest gigantic monetary windfall is all down to Tesla posting record quarterly results. Tesla experienced a surge in demand during March which exceeded estimates predicted by Wall Street analysts. Tesla’s record quarterly sales were not impacted despite the introduction of price increases brought on by inflation.

Tesla’s quarterly revenues amounted to $18.76 billion before being adjusted for taxes, interest and depreciation. Musk is owns 17-percent of Tesla and his agreed compensation of $23BN wil only be paid out if Tesla meets an agreed set of performance goals.

With Tesla’s record 2022 quarterly results, Elon Musk exceeded his performance goals and is entitled to be compensated as per contractual agreement. Musk will not be paid automatically, the Tesla board will have to give formal consent to release the compensatory amount Musk is due.

The terms for Musk’s personal compensation for being the CEO of Tesla is quite complex. Last year he earned $16BN from selling 10-percent of his Tesla shareholding to cover a tax bill.

Elon Musk earns $23 Billons after Tesla profit surge

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