If predictions for Tesla are correct, CEO Elon Musk is going to have a really good 2022.
Analysts predict that Tesla will report strong financial results this year, adding billions to Musk’s wealth. However, Musk’s gains won’t be seen in a salary or cash bonus from the company, as his wealth is earned based on stock awards.
Since 2018, the Tesla CEO has been on a payment plan based on a series of performance milestones Tesla must hit between now and January 2028. His 2018 pay package allocated 101 million split-adjusted shares that would be awarded to him in 12 equal portions, and he has already hit seven. Analysts are expecting Tesla to hit the remaining five financial targets in 2022 — which are cumulatively worth $36.3 billion.
However, Tesla’s predicted success isn’t a completely sure thing. The company’s valuation can be questionable, as it is worth more than the 10 largest automakers in the world even though it posts significantly smaller sales than each of them. The company shot up to $1,200 a share after its fourth-quarter sales volumes were announced, but the stock is now trading at $919 a share.
“As you’re seeing investors heading for the hills on risk, Tesla shares are caught in the storm,” Wedbush Securities analyst Dan Ives told CNN.
The billionaire also suffered from major market sell-offs at the beginning of 2022. Musk has lost around $27 billion since the start of the year, and he is around $100 billion less wealthy than he was in November.
Tesla is set to post its financial results for the fourth quarter of 2021 and the full year after the market closes on Wednesday.
As of Tuesday morning, Musk’s net worth is $236.7 billion.
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