Tesla's Musk approaches a US$$1.8bil bonanza

Fueled by stronger-than-expected car deliveries, shares of Tesla have surged over 40% in the past seven sessions, elevating the company's market capitalization to US$259 billion. More important for Musk's personal finances, Tesla's six-month average market capitalization has reached a record $138 billion.

NEW YORK: Tesla Inc's blistering stock rally is putting Chief Executive Elon Musk in reach of a payday potentially worth US$1.8 billion, his second jackpot from the electric car maker in about two months.

Fueled by stronger-than-expected car deliveries, shares of Tesla have surged over 40% in the past seven sessions, elevating the company's market capitalization to $259 billion. More important for Musk's personal finances, Tesla's six-month average market capitalization has reached a record $138 billion.