Musk Eyes $775 Million Payday After Hitting Valuation Milestone

Elon Musk, Tesla’s CEO, has received the option to buy 1.7 million shares in the company at a price much lower than the current market price, potentially making $775 million, MarketWatch reports. The option is part of Musk’s compensation package that includes share-buying rights in case certain milestones are hit, such as maintaining a market cap of an average of $100 billion over six months, which is now a fact. Tesla is currently trading at over $800 per share while his option includes a price of $350.02 per share. The company turned…