Tesla shares hit $100bn for the first time on Wednesday, triggering a payout plan that could be worth billions for Elon Musk, founder and chief of the electric carmaker.
Shares in Tesla rose some 4.8% in opening trade to extend the gains in the value of the fast-growing maker of electric vehicles.
Under a compensation plan approved by Tesla's board in 2018, Musk is to be paid in stock awards based on the value of the company, which could be worth as much as $50bn if Tesla reaches $650bn. He agreed to the plan, which would pay him nothing until Tesla's value reached $100bn.