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Elon Musk's £600m bonus could become £45bn bonanza

Tesla tycoon Elon Musk's £600m bonus is part of what could become a £45billion bonanza, documents show. 

The 48-year-old qualified for an award of 1.69m shares last week after his company held an average market capitalisation of $100billion (£81billion) or more over a six-month period. 

On a high: Elon Musk qualified for an award of 1.69m shares last week after his company held an average market capitalisation of $100billion 

They could net him a profit of £600m or more – representing one of the biggest ever corporate bonuses. 

But it is also just the first of 12 tranches in the award scheme totalling 20.3m shares, according to regulatory filings. Tesla has estimated the package could be worth $55.8billion (£45.2billion) – if Musk can turn the company into a $650billion (£527billion) business. 

The billionaire, who is estimated to be worth $41billion (£33.2billion), recently said he was selling 'almost all' of his physical possessions, including houses, and that he didn't need money. 'Devoting myself to Mars and Earth. Possessions just weigh you down,' he tweeted. 

His other major venture, SpaceX, made history on Saturday by becoming the first private company to send astronauts into space. (Musk is pictured celebrating the launch above). 

Tesla was worth $155billion (£126billion) on Friday.

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