Musk nears $346m payday as Tesla market value soars

Tesla chief executive Elon Musk is coming close to earning the first $346m tranche of options in a record-breaking pay package, after the electric vehicle maker's stock more than doubled in the last three months. Shares of Tesla surged 9% to a record high on Wall Street yesterday. They need to rise another 6% to put Tesla's stock market value at $100 billion and then be sustained at that level for both a one-month and six-month average in order to trigger the vesting of the first of 12 tranches of options granted to Musk to buy Tesla stock. Elon Musk has already hit an operational target that is also necessary for the options to...