Tesla CEO Elon Musk unlocked the first part of his $55 billion compensation package.
According to Business Insider, Musk does not take a salary from the company.
Tesla had to reach $20 billion in revenue and a sustained market cap of $100 billion before Musk could receive his package.
Now Musk can buy 1,688,670 shares at a discount price of $350.02 a piece.
While Bloomberg’s Billionaires Index showed Musk is worth around $40 billion, he is “cash poor,” with most of his wealth in Tesla stock.