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Tesla’s Musk Clears Last Hurdle to Collect $706 Million Award

Elon Musk
Elon MuskPhotographer: Andrew Harrer/Bloomberg

A measure of Tesla Inc.’s market value on Tuesday reached the threshold needed for Chief Executive Officer Elon Musk to collect the first chunk of his moonshot pay award.

The electric-car maker’s average trailing market capitalization over six months topped $100 billion at the close of trading, according to data compiled by Bloomberg.