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Elon Musk Ahead of Pace for $1.6 Billion Tesla Motors Payday

  • Billionaire was granted 5.27 million stock options in 2012
  • Musk has met half of the option goals in just three years
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Meet Tesla's Stunning New Model 3

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Elon Musk is ahead of schedule to get a huge payday from Tesla Motors Inc. even though he earns less than $40,000 in annual salary.

In 2012, the electric carmaker awarded its billionaire founder 5.27 million options tied to milestones including developing new vehicles and ramping up production. While he was given until 2022 to meet the goals, he has already achieved 50 percent of them, according to a proxy statement issued April 15. That means he may get $1.6 billion well before then.