Elon Musk Gets $700 Million Payday After Twitter Meltdown

"Tesla stock price is too high imo."

Oops

After a self-sabotaging move of extraordinary proportions, Tesla CEO Elon Musk managed to wipe out billions in Tesla's value — but now, days later, he's getting an epic payday.

"Tesla stock price is too high imo," the eccentric billionaire tweeted last Friday, in a series of mysterious tweets that sent share values plummeting and left shareholders shaking their heads.

Payday

Yet Tesla values still beat earnings expectations this week, with share values rebounding to late-April levels, closing at $761.19 yesterday. That also means Tesla achieved a six-month average of a hair over $100 billion, resulting in Musk qualifying for a sizeable $700 million payday, Reuters reports — if he's willing to part with 1.69 million Tesla shares.

Outside of the pay package that was first agreed upon in 2018, Musk does not receive a salary or cash bonuses from either SpaceX or Tesla.

Baby Blues

The news also comes the same day Musk's partner and artist Grimes gave birth to a healthy baby.

According to musk, the baby will be named "X Æ A-12 Musk."

READ MORE: Tesla stock rise appears to qualify CEO Musk for $700 million payday [Reuters]

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